Saturday, August 11, 2012

Lotto operator doubles Q2 income

Lotto operator doubles Q2 income

LOTTO OPERATOR Pacific Online Systems Corp. doubled its profits in the second quarter from yearago levels on higher revenues from the deployment of more gaming terminals, a filing to the Philippine Stock Exchange on Friday showed.

The company earned P105.46 million for April to June from last year’s P51.72 million.

This, as consolidated revenues grew by 6.32% to P368.54 from P364.62 driven by increase in equipment rentals.

Consolidated expenses also went up 6.93% to P242.28 million from P227.72 million last year on the back of higher consultancy and software license fees.

The second quarter results led the company to post P201.03 million in net income in the first half, up by 2.35% from P196.66 last year.

Revenues in the first semester jumped by 10.18% to P755.28 million from P685.52 million in the same period last year.

“The increase was mainly due to increase in terminals deployed for both Lotto and Keno,” the company said.

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