Petron shortlists three for US$10m media pitch

The final round of pitching for this account concluded last week and the results are likely to be announced in the next few days.

Petron is among the top twenty advertisers in the Philippines and its media account is currently being handled by Ace Saatchi & Saatchi.

However, its creative account is split between three agencies: Leo Burnett, Lowe and Saatchis. Sources suggest that a creative pitch may follow the media review.

The oil firm recently announced a slump in profits, despite increasing sales volume. Petron saw net first quarter net profits fall by 31 per cent, gaining only Pesos 658 million (US$15 million) compared with Pesos 953 million (US$22 million) over the same period last year.