DFNN profit up more than six-fold

DFNN, Inc. said net income last year jumped by 513 percent, or more than six-fold from that of 2016, driven by higher commission fees and improvement in service income.

DFNN told the Philippine Stock Exchange on Wednesday that net income rose to P144.77 million in 2017 from P23.61 million the previous year.

Consolidated revenues more than tripled to P961.94 million from P259.88 million a year earlier.

The boost in revenues was attributed to the 300-percent rise in commission fees from plat - cent improvement in service income from its software maintenance services.

DFNN also reported a 201- percent growth in the number of electronic gaming machines deployed to 6,093 machines in 2017 from 2,296 units in 2016.

“Our largely improved performance in 2017 is indicative of the effectiveness of DFNN Team’s business planning and efforts. carry over to this year as we add new revenue streams and extend our core competencies to other avenues within the technology sector,” DFNN Chief Executive

- ing various wireless solutions for business operations such as General Packet Radio Service (GPRS), Wireless Fidelity (WiFi), WiMAX and 3rd Generation Wireless (3G), among others.