Philippines-based betting firm Philweb Corp has posted their second quarter 2016 financial results, noting plummeting net incomes.
Key financial indicators for the second quarter ending June 30th, 2016 were:
- Net income of P22.5 million, down 89% from last year
- Comprehensive income to shareholders of P22.6 million, with earnings per share at 17.18 centavos, down 1.9 centavos from last year
- Revenues up 9% to P435.3 million
First half numbers were:
- Revenues of P850 million
- Net income down 43% to P235 million
- Costs up 91% to $576.5 million
The results come as former company chairman Roberto Ongpin has announced he is auctioning off his 53.76% share of the company.