PUBLICLY listed DFNN Inc.
reported a financial turn around in 2015, the business having posted positive earnings before interest, depreciation and amortization (Ebitda) compared with losses sustained the previous year.
Last year the growth of its gaming and other services helped the company post an income.
DFNN said in its disclosure to the Philippine Stock Exchange (PSE), its Ebitda last year might have reached between P50 million and P60 million from the previous year’s negative Ebitda of P47.41 million.
Consolidated revenues will be between P70 million and P80 million, or almost triple the previous year’s P27.75 million, the company said.
Meanwhile, its net-income guidance for the fourth quarter of 2015 was between P25 million and P30 million, or a turnaround from P83.14-million loss in the same period in 2014.
“The robust performance is attributable to the increase in the company’s gaming and gaming-related services,” said the company, previously known as Diversified Financial News Network.
DFNN has licenses for electronic-gaming machines, sports betting, and digit and pari-mutuel games with state-owned Philippine Amusement and Gaming Corp.
DFNN said its unique background as an information-technology company with a track record puts it in a unique position to explore and maximize opportunities in the gaming sector.