LPG company South Pacific Inc. (SPI) has posted remarkable growth rates of its market share for the first quarter of 2020 when compared to its performance in the first quarter of 2019.
In terms of volumes sold, SPI posted a growth rate of 41 percent for Q1 2020 compared to Q1 2019 figures.
During the same period, growth rate for gross sales increased by 54 percent while profit growth also leapfrogged by 74 percent.
The growth rates are not surprising given the SPI’s track record since it went fully operational in 2016, the growth rate. According to the company’s LPG Industry Report for Fiscal Year 2019, SPI had a 6.56 percent market share in 2016. In succeeding years, it posted market shares of 13.68 percent in 2017, 13.43 percent in 2018 and 17.87 percent in 2019 behind only industry leaders Petron and Liquigaz.
SPI attributes its impressive growth to smart investments, security of supply and customer service.
Already boasting of the biggest LPG storage facility and its own fleet of trucks to prevent pilferage, SPI has also invested on two jetties and technical equipment for marine loading.
To ensure security of supply, SPI has also tapped the reputable Wanhua Chemical Group, known for its products’ quality, commercial value, delivery, documentation, innovation, responsiveness and sustainability. The partnership further boosted SPI’s already formidable operations.