Pilipinas Shell Petroleum Corporation’s net income surged to P7.8 billion in the first half, a phenomenal surge from P2.2 billion in the same period last year and also surpassed the scale of profitability of its biggest competitor, driven by the weekly seesaw in prices at the domestic pumps and upticks in sales volume.
“We are confident to continue our momentum, deliver shareholder returns, and power progress for the Philippines,” she said; while also disclosing that the company will have a rebirth through the change of its corporate name to Shell Pilipinas Corporation. As noted, the company was able to register a positive cash flow from operations at the scale of P13.7 billion, an impressive climb from the year-ago level of P7.6 billion.
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