DFNN nets P101.8M

Technology firm DFNN Inc. jacked up its first semester net profit by 456 percent year-on-year to P101.8 million as revenues from gaming platforms surged.

Six-month revenues soared by 880 percent year-on-year to P556.9 million, DFNN said in a press statement. This increase was brought about by the growth in revenue from the licensed gaming operations, which is the group’s core business, with an increase of about P505.1 million or 1,423.8 percent compared to similar period last year.

DFNN attributed its robust performance to the increase of platform affiliates, referring to independent operators that use the company’s technology platform. Affiliated sites increased by 154 year-on-year, while the number of terminals using its gaming products increased by 385 percent.

“We are very pleased to share our first half results,” DFNN chief operating officer Ricardo Banaag said. “The company is understandably incurring continuous costs due to increased expansion activities. However, we are confident that the launch of new products under our suite will sustain this progression through to the second half of 2017.”

For the second quarter alone, DFNN’s net profit rose by 59.5 percent year-on-year to P48.6 million while revenues surged by 1,000 percent to P290.5 million.

Over the last year, DFNN brought in additional software providers under its gaming suite, such as: Alfastreet, Pragmatic Play and Real Time Gaming. It also completed key platform upgrades to its data and support center infrastructure to make it even more robust, secure and responsive.

In order to better support its platform affiliates, DFNN plans to establish several satellite offices located outside Metro Manila.