Petron's income soars to PHP1.1 billion in first half

Petron Corp., the Philippines’ leading oil refining and marketing company, reported a net income of PHP1.1 billion (USD25.1 million) for the first half of 2013, more than five times the PHP183 million (USD4 million) posted in the same period last year.
Petron posted revenues of PHP218.8 billion (USD5 billion) for the first six months of 2013, up 13% over the same period last year.
In a disclosure to the Philippine Stock Exchange, Petron said first half sales volume rose 22% to 39.8 million barrels of oil products, from from 32.5 million barrels during the same period in 2012.
The company attributed earnings growth to the full consolidation of its Malaysian operations and the stronger performance of key domestic segments.