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REVERSES 2014 NET LOSS

DFNN posts P79-M comprehensive income for 2015


DFNN Inc., a publicly listed IT firm, registered a significant milestone of turning around its bottom line from a comprehensive loss to a positive income.
 
The company reported a comprehensive income of P79.60 million last year, a notable turnaround from a comprehensive loss of P126.70 million in 2014.

Consolidated revenue reached P259.85 million, up 183.8 percent from P91.56 million posted in the same comparable period.

 “Looking back at our growth in the gaming space, 2015 was an important inflection year for us. We intend to continue on this upward course as we launch more of our game offerings in the next quarter,” DFNN COO Ricardo Banaag said on Thursday.

DFNN is a holder of licenses for Electronic Gaming Machines, Sports betting, and digit and pari-mutuel games with the Philippine Amusement and Gaming Corporation.

The rise in net income was from service fees directly related to the gaming industry including a new source of revenue from business process outsourcing services for legally regulated gaming companies, the company disclosed to the Philippine Stock Exchange.

DFNN also noted a rise in commission income from licensed gaming operations with the state gaming regulator. – VDS, GMA News

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