Manila, May 13 -- Officials of Shell Pilipinas Corporation (SPC) on Tuesday expressed optimism for the continued growth of their business amidst the challenging economy both here and abroad.

In a disclosure, the listed firm said net income in the first quarter this year reached PHP740 million, lower than its PHP1.4 billion level a year ago, attributed to increased competition and market volatility. Core earnings, meanwhile, rose by 26 percent to PHP870 million.

For the whole year, SPC president and chief executive officer Lorelie Osial, in an online briefing, said the focus will be on cash, returns, and growth.

"After reporting a cash flow deficit in the last six years, we have made the most and is progressing in 2024 and we will conti...