MANILA - Shell Pilipinas Corp said on Thursday it generated a net income of P4.1 billion in 2022, up 6 percent compared to the previous year as it continues to recover despite rising inflation and fuel price volatility.
The gains were attributed to the volume delivery which increased by 10 percent, Shell Pilipinas said in a disclosure to the stock exchange.
"Powering progress for the Philippines will remain to be our commitment. The environment and our customers' needs are shifting, and Shell Pilipinas is well positioned to be trusted partner in meeting the current and changing needs of our customers," Shell Pilipinas President and CEO Lorelie Quiambao-Osial said.
Meanwhile, Shell said its non-fuels retail business posted a record profit of P2.6 billion last year.
To date, there are now 217 Shell Select stores, 223 Select Express, 93 Deli2Gos and 479 Lube bays nationwide. It also recently launched the first Shell Cafe in the Philippines.