Xurpas posts record profit, revenues in 2016

Xurpas, Inc., the Philippines’ largest listed mobile technology firm, enjoyed the strongest year in its history, posting record income and revenue for 2016.

In a disclosure to the Philippine Stock Exchange, the firm said net income increased by 33 percent to R304.9 million in 2016, versus the recorded net income of R229.6 million in 2015.

Revenues more than doubled, increasing by 114 percent to R1.97 billion compared to the R921.2 million the previous year.

Vigorous growth across both its core Mobile Consumer and Enterprise units, particularly in the last quarter of 2016 – the firm’s strongest quarter to date – drove the company’s robust performance.

The tech firm’s gross profit was up by 55 percent at R829.3 million, with gross margins remaining at a healthy 42 percent.

Xurpas’ Mobile Consumer Services unit continued to underpin the company’s results, with revenue from the unit more than doubling in 2016 at R1.24 billion, or an increase by 115 percent versus the R576.0 million achieved in the previous year.

Comprised of both Xurpas’ core mobile games business, and Art of Click, the Singapore-based Mobile Advertising Network acquired in October 6, 2016, the Mobile Consumer Services segment contributed 63 percent of Xurpas’ total revenue.

Enterprise Services also increased significantly. Comprising a third (33 percent) of total revenues, the business unit surged 168 percent to R653.1 million for 2017, compared to R243.5 million the year before. (JAL)