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PhilWeb Announces Record Income for 2012, Declares P0.10 Dividend...

PhilWeb's audited Net Income for 2012 was P1.1 billion, 20% higher than the previous year. The performance was driven by excellent results from all the Company's operations, especially in its new businesses in the Asia Pacific region.
The Board of Directors of Phil Web Corp. has declared a P0.10 dividend during its meeting on February 19, 2013. The dividend is payable to all stockholders on record as of March 5, and will be paid out on March 15, 2013.

Phil Web has been paying dividends since 2010, when it declared a P0.10 dividend for the first time in its history. In 2011, there were two dividends for a total of P0.20. The dividend payout further increased in 2012, when a total of P0.20 was paid out in cash plus an additional 20% stock dividend. The company notes that it plans to keep increasing its dividends in the future.

Phil Web is a provider of gaming solutions in the Asia Pacific region, with businesses in the Philippines, Timor Leste, Cambodia and Guam. Phil Web further disclosed that it will be entering Indonesia with a new product next month.

The fastest growth was delivered by Phil Web's Asia Pacific subsidiary, which operates scratch card businesses in Cambodia and Timor Leste, and a Sweeps Center in Guam. Asia Pacific contributed 9% of total revenues, which drove the firm's consolidated Total Revenue line to P1.5 billion, 27% higher than for the same period in 2011.

Dennis Valdes, president of Phil Web, said, "we are pleased to note several bellwether events that contributed to making 2012 a record-breaking year for us. First and foremost, we are now a true multinational corporation, with the realization of solid revenues from our Asia Pacific expansion."

Mike Grandinetti, president of Phil Web Asia Pacific, added, "our launch in Indonesia means that we will now have operations in four countries around the region. We will also soon open our first e-Games cafe in Timor Leste. This expansion means that e-Games will now become a regional brand for PhilWeb's quality electronic gaming solutions."

Valdes also noted that the Company's e-Games cafe business in the Philippines remains strong, with a current total of 278 outlets. Further, Phil Web has just set up a new company to produce electronic gaming terminals with a built-in bill acceptor, card reader and ticket-in, ticket-out printer. "We have just received the PEZA certification for e-Magine Gaming Corporation, our new gaming terminal business, and we expect it to export a significant number of gaming machines in the coming years."

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"PhilWeb Announces Record Income for 2012, Declares P0.10 Dividend" was written by Mary under the Business category. It has been read 1174 times and generated 0 comments. The article was created on and updated on 20 February 2013.
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