DIGIPLUS Interactive Corp. saw its net income in 2023 balloon by almost six times to P4.1 billion from P686.9 million a year earlier, propelled by the sustained growth in the digital retail business.

The strong results were boosted by the launch of new platforms and the cost-efficiency measures implemented by the company to continue gaining scale, DigiPlus said in a filing on Tuesday.

Consolidated revenues reached P27.3 billion, up 306 percent year-on-year, on the back of increased user traffic on its gaming platforms BingoPlus and ArenaPlus as well as contributions from new digital offerings.

"We are pleased to see the sustained growth momentum across our digital offerings as we aim to usher in a new era of entertainment in the space," DigiPlus President Andy Tsui said in a statement.

The company has remained optimistic about its growth prospects and invested in "new technologies and product development to deliver innovative, fun, affordable, and accessible digital offerings that are traditionally well-loved by Filipinos," he added.

For the fourth quarter alone, the gaming firm delivered a net income of P2.0 billion, 392 percent higher year-on-year, mainly driven by the full-quarter contributions of new digital offerings, while revenues rose 331 percent to P11.3 billion.

Earnings before interest, taxes, depreciation, and amortization (Ebitda) during the quarter climbed by 460 percent to P2.3 billion, leading to a full-year 2023 Ebitda of P4.8 billion.

Following the announcement of 2023 earnings, the DigiPlus board greenlit on Monday the declaration of cash dividends of 18 centavos per outstanding common share, payable on April 18 to all stockholders on record as of April 4.

The cash dividends would be sourced from the company's unaudited, unrestricted retained earnings as of December 31 of last year.

DigiPlus' share price dropped by 2 centavos to close at P10 each on Tuesday.

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