Sunday 20 May
Powered by Ajaxy
Apr 12, 2016 @ 10:00

Stock investment losses pull down lotto firm’s bottomline

 

Lotto services provider Pacific Online Systems Corp., controlled by Bilyonaryo Willy Ocier incurred a net loss of P48.7 million last year, citing loss on sale of stock investments.

This was a reversal of the P359.5 million profit reported in 2014 which was boosted by a P112.9 million mark-to-market gain and P80.2 million gain on sale of marketable securities and investment stocks.

Pacific Online booked a P400 million loss on sale of stocks in 2015.
Revenue was flat at P1.72 billion, due largely to reclassification of distribution expenses to the gross revenues from instant ticket distribution effective April 2015 when the instant ticket operation was outsourced to Powerball Gaming and Entertainment Corp.

The company’s operating expenses slightly declined to P1.21 billion.

Pacific Online leases online computer terminals and software to the Philippine Charity Sweepstakes Office’s lottery operations in the Visayas Mindanao region.

Tags: , , , ,

Related Stories
The Philippine Charity Sweepstakes Office (PCSO) is set to upgrade its 20-year-old system and is
Lotto services provider Pacific Online Systems Corp. said net income grew more than a fifth
The Philippine Charity Sweepstakes Office (PCSO) is set to earn revenue of up to P1-billion
Premium Leisure Corp. said its net income in the nine months to September surged 94


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.