Top Line scales up with 50-station goal

Listed fuel retailer Top Line Business Development Corp. is ramping up expansion of its fuel retail arm, Light Fuels  Corp., as it targets to operate 50 service stations by end-2025, well ahead of its original target of 30 by 2026.

The company said Friday that the accelerated growth will be complemented by its acquisition of 38 stations from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corp. (BMC), expanding its footprint across Cebu, Leyte, Siquijor, and Negros Oriental. 

The P180-million deal, funded through bank financing and internal funds, also includes a two-million-liter depot in San Jose, Negros Oriental, and 15 tanker trucks to boost logistics capacity.

“We seize opportunities for expansion with prudence and purpose. This acquisition is a strategic move that demonstrates our disciplined and effective use of capital. 

Each station we acquire has been carefully evaluated for its operational potential and its ability to strengthen our network, ensuring it contributes to our bottom line while delivering sustainable value for our shareholders,” said Chairman, President, and CEO Eugene Erik Lim.

Top Line currently has four operating stations, with eight more under development in Metro Cebu and Cebu Province.

Retail fuel sales hit 44.43 million liters in the first half of the year, up 38.3 percent from 32.12 million liters in the same period last year.