Quantcast
Latest Stories

PhilWeb posts 20% profit jump



PhilWeb Corp. on Wednesday reported a net income of P1.1 billion for 2012, 20 percent higher than the previous year, with all divisions contributing to the growth, especially its new businesses in the Asia-Pacific region.

The board of PhilWeb has also declared a P0.10 dividend during its meeting on Feb. 19, payable to all stockholders on record as of March 5 and payable on March 15.

PhilWeb has been paying dividends since 2010 when it declared a P0.10 dividend for the first time in its history. In 2011, there were two dividends totaling P0.20. The dividend cash payout increased in 2012 when a total of P0.30 was paid out plus an additional 20-percent stock dividend.

PhilWeb is a provider of gaming solutions in the Asia-Pacific region, with businesses in the Philippines, Timor Leste, Cambodia and Guam. PhilWeb said it would be entering Indonesia with a new product next month.

The company said the fastest growth was delivered by PhilWeb’s Asia-Pacific subsidiary, which operates scratch-card businesses in Cambodia and Timor Leste, and a Sweeps Center in Guam. Asia-Pacific contributed 9 percent of total revenues, which drove the firm’s consolidated revenue line to P1.5 billion, 27 percent higher than in 2011.

Dennis Valdes, president of PhilWeb, said there were “several bellwether events that contributed to making 2012 a record-breaking year. First and foremost, we are now a true multinational corporation, with the realization of solid revenues from our Asia-Pacific expansion.”

Valdes also noted that the company’s e-Games café business in the Philippines remained strong with a current total of 278 outlets. PhilWeb has just set up a new company to produce electronic gaming terminals with a built-in bill acceptor, card reader and ticket-in, ticket-out printer.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , E-Games , Earnings , Gaming , PhilWeb Corp.



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • DOH asks co-passengers of OFW carrier to test for MERS-CoV
  • ‘Shouldn’t we move?’ Ferry evacuation under scrutiny
  • 5.5-magnitude quake hits Sultan Kudarat
  • Passengers denied chance to escape sinking South Korea ferry
  • Firetruck rams California eatery; 15 injured
  • Sports

  • PH youth boxers off to stumbling start in AIBA World tilt
  • Durant has 42, Thunder beat Pistons 112-111
  • Walker leads Bobcats over Bulls in OT, 91-86
  • Man City slips further out of title contention
  • Federer would skip tennis to be with wife, newborn
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • Will Arnett files for divorce from Amy Poehler
  • American rapper cuts own penis, jumps off building
  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • Business

  • Asia stocks fail to match Wall Street gains
  • Fired Yahoo exec gets $58M for 15 months of work
  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • Technology

  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Syria most dangerous country for journalists, PH 3rd—watchdog
  • Japan says visa-free entry still a plan
  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Marketplace