Aug 132016

Listed technology firm

MANILA, Philippines – Xurpas Inc. grew its first half net income 15 percent to P132.51 million, driven by the continued growth of its digital products and services.

The company registered revenues of P736.09 million, up 136 percent year on year.

Excluding non-recurring expenses related to its ongoing expansion, the firm’s core net income grew 18 percent to P136.08 million.

Xurpas president and COO Raymond Racaza said the company would continue to expand its games and products.

“To say we are excited about what lies ahead is a huge understatement. We continue to aggressively expand our enterprise business, but also remain extremely bullish about the prospects for our mobile consumer segment. We are looking forward to bring our next family of games and products to the market,” Racaza said.

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Enterprise services surged 1,113 percent to P308.87 million due to the full effect of the acquisition of Yondu Inc. The amount accounted for 42 percent of the company’s first half revenues.

This reflects management’s commitment to develop multiple sustainable revenue streams, while continuing to build on it’s core business, Xurpas said.

On the other hand, mobile consumer services demonstrated continued its upside potential, delivering P397.04 million in revenue, or a 63 percent increase from the same period last year.

Racaza said the company has not yet fully utilized the P1.2 billion proceeds from an overnight top-up placement made in April.

 “We are not yet done optimizing our avenues for growth, and have not exhausted our newly-raised capital. While we carefully and strategically weigh new potential investments, we continuously build out our existing businesses with our earlier investments. We always say that we are in a marathon, not a sprint. Long term sustainable growth is our main driving spirit,” Racaza said.

 Xurpas specializes in the creation and development of digital products and services for mobile end-users, as well as the creation, development, and management of proprietary platforms for mobile operators.

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