Business

Xurpas 2Q Revenue Surges 65%, Beats 1Q Growth

Makati—(PHStocks)—Technology firm Xurpas Inc. (PSE: X) announced that its revenue grew 65% in the second quarter of 2015, beating its first quarter performance of 52% year-on-year growth. Xurpas’ 1H2015 revenue was at PhP311.99 million versus PhP189.63 million the previous year. The company’s continuing strength in its core Mobile Consumer Services business accounted for the healthy boost in its topline.

Xurpas’ gross profit increased by 65% to PhP209.84 million on 30 June 2015 from PhP127 million the previous year, while gross profit margin remained at a solid 67%. Xurpas’ operating income margin likewise remained very robust at 53%, despite various outlays related to acquisitions and organizational build-up. The company’s operating income rose by 40% to PhP166.22 million in 1H 2015 versus PhP118.36 million in 1H 2014.

Xurpas ended the first half of 2015 with net income climbing to PhP115.61 million. This translates to a healthy 37% net income margin, notwithstanding the imposition of the full 30% corporate income tax rate after the company’s tax holiday expired in July 2014. For 1H 2015, core net income excluding non-recurring expenses related to acquisitions, was at PhP122.87 million.

In July, Xurpas broke new ground and launched Xeleb Inc., the Philippines’ first mobile games company focused on celebrity-branded games. Its principal shareholders include the country’s biggest stars: Anne Curtis, Isabelle Daza, Kim Atienza and Erwan Heussaff. The company unveiled its first game Anne Galing! which was designed by Anne Curtis herself.

“Exciting times are ahead for Xurpas. We have been very busy growing our core mobile consumer business, while seeking promising opportunities to enhance both product offerings and reach in Southeast Asia,” said Nix Nolledo, Chairman and CEO of Xurpas.

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