Unioil included in the top 200 corporations
February 2, 2010
In a sign of its sound financial footing and business acumen Unioil Petroleum Philippines Incorporated (UPPI) was one of the top gainers in the domestic scene making it to the Top 200 of the Top 1, 000 Philippine Corporation in 2008-2009.
The figure showed that Unioil, one of the country's leading independent oil players today, ranked 156 beating other independent player such as Phoenix Petroleum (216) with a profit of 126 million compared to the previous year's 35 million in 2007.
The company's sales output also swelled to P6, 537, 311 from the 2007 level of P1,933, 520 or a rise of 238.10 percent.
Company assets also has increased to P2,158,731 with a return on assets of 5.84 percent, a rosy figure considering the current economic crisis exacerbated by the global financial meltdown.
Unioil President Kenneth Pundanera lauded the company's strong showing saying it is a manifestation of their sound policies and programs geared both to the domestic and international market.
“This ranking goes to show that indeed Unioil is among the country's leading reputable company with financial capability and know how to navigate the oil industry market in the country and in the region,” Pundanera said.
He also stressed that the strong sales was further buoyed by the favorable media reports and the support of the consuming public due to the company's “big-time rollbacks” started in 2008 which showed the way for other oil players.
“We were pilloried then when we initiated the big-time price cutbacks but this I think is more than enough vindication for Unioil to continue with its mission of providing the Filipino people with high-quality yet affordable petroleum products,” he added.
Likewise, the introduction of innovative products fully compliant with the provision of the Clean Air Act such as the Pure Diesel Plus, Quantum Pure Power Gasoline, AutoGas and lubricants have boosted the company's strong sales output.
Linkages with its franchise stations and other partners have also strengthened the company's reach which has initiated a multi-million peso expansion plan that involved the construction of additional service and retail stations in Metro Manila and nearby provinces. #### by Leah Flor