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Manila Bulletin devider Business devider The Stock Market devider DigiPlus profits surge sixfold to P4.1 B

DigiPlus profits surge sixfold to P4.1 B

Published Mar 19, 2024 07:35 am

DigiPlus Interactive Corp (DigiPlus), the fastest-growing digital entertainment group in the country, posted a 596 percent surge in attributable net income to P4.1 billion last year from P600.7 million in 2022.

In a disclosure to the Philippine Stock Exchange, the firm said “The strong performance was driven by the sustained growth of its digital retail segment, boosted by the introduction of new platforms and cost-efficiencies as the business continues to gain scale.”

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Revenues soared 306 percent to P27.3 billion in 2023 from P8.9 billion in 2022 on higher user traffic in its flagship bingo platform BingoPlus and sportsbook ArenaPlus, lifted by the contribution of new digital offerings. 

EBITDA, on the other hand, reached P4.8 billion, expanding nearly fivefold from the previous year.

DigiPlus continues to invest in new technologies and product development as it aims to establish a digital entertainment ecosystem, unlocking innovative product formats for Filipinos that can be accessed anytime and anywhere. 

The firm has launched new products to cater to broader demographics and lifestyle preferences.

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DigiPlus President Andy Tsui

“We are pleased to see the sustained growth momentum across our digital offerings as we aim to usher a new era of entertainment in the space,” DigiPlus President Andy Tsui said. 

He added that, “We continue to be optimistic about the prospects for the company as we invest in new technologies and product development to deliver innovative, fun, affordable and accessible digital offerings that are traditionally well-loved by Filipinos.”

Meanwhile, the DigiPlus Board of Directors of approved the declaration of cash dividend to all stockholders amounting to P0.18 per outstanding common share. The cash dividends will be payable on or before April 18, 2024 to stockholders on record as of April 4, 2024. 

The cash dividend was declared out of unaudited unrestricted retained earnings of the Company as at December 31, 2023.
 

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Andy Tsui DigiPlus Interactive Corp. (DigiPlus)
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