EASYCALL Communications Philippines, Inc. saw over 400% earnings growth in 2018, driven by its acquisition of TDG Ventures, Inc. in the fourth quarter.
EasyCall posted an attributable net income of P55.17 million last year, a 432% surge from the P10.37 million it saw in 2017.
“The increase in net income was primarily driven by EasyCall Communications’ acquisition of 11.76% of TDG Ventures, Inc. (TVI) last November 2018. TVI is the technology and lifestyle operating holding company of Philippine-owned Transnational Diversified Group,” the listed company said in a disclosure to the stock exchange Wednesday.
EasyCall invested P45.09 million for an 11.76% stake in TVI.
TVI is a majority shareholder in EasyCall Communications with a 82.68% stake.
EasyCall revenues jumped 20% to P63.3 million in 2018, from P52.84 million it recorded in 2017, “primarily due to increased revenues from managed internet services, IT equipment subscription fees and support maintenance attributable to increased number of subscriptions.”
Expenses reached a total of P62.81 million, up 22.9% from P51.09 million in 2017, mainly due to higher cost of internet line subscription and support maintenance.
“Our improved net income gives us great momentum, especially now as we strive to provide more value-added data-related technology services to our customers for 2019 and beyond,” EasyCall Communications President Zaki H. Delgado was quoted as saying.
Incorporated as a telecommunications company in 1989, EasyCall was initially engaged in the paging industry, and later entered the contact center outsourcing and information technology-related businesses.
Its contact centers are under ePI, ePerformax Contact Centers Corporation, ePerformax Contact Centers (Cebu) Corp., and ePerformax Contact Centers (Roxas) Corp. EasyCall’s subsidiary, EasyNet, offers corporate DSL resellership, internet services, web business solutions and server co-location.
Shares in Easycall rose 17% or P1.70 to P11.98 each on Wednesday. — Denise A. Valdez
