DFNN reports five-fold increase in profit in 2017

Philippine technology firm DFNN Inc on Wednesday reported consolidated revenue of P961.9 million for the full-year 2017, an increase of 270 percent year-on-year.

The company also disclosed a net income of P144.8 million, up more than five-fold from P23.6 million recorded the year before.

DFNN said the boost in revenues was largely due to a 300 percent rise in commission fees from platform affiliates, as well as a 438 percent improvement in income attributed to the provision of software maintenance services.

The company also reported a 201 percent growth in the number of EGMs deployed in the country, from 2,296 in 2016 to 6,093 in 2017.

DFNN CEO, Calvin Lim, commented: “Our largely improved performance in 2017 is indicative of the effectiveness of DFNN Team’s business planning and efforts. We are confident that this will carry over to this year as we add new revenue streams and extend our core competencies to other avenues within the technology sector.”