Pacific Online’s 9-mo profit triples

Pacific Online Systems Corp. posted a net profit of P115 million in the first nine months of the year, nearly three times the P41 million earnings reported the same period a year ago on the back of new product offerings and the continued rollout of new terminals.

Pacific Online chairman and president Willy Ocier said the company has already exceeded its full year net profit of P54.4 million in 2006.

Ocier said the company is on track to meeting its full year projected net earnings of P170.7 million for 2007.

Revenues grew 14 percent to P343 million in the nine-month period this year from only P301 million the previous level.

In the third quarter alone, Pacific Online registered record sales of P124 million out of P1.24 billion worth of lotto sales handled during the period under review.

As of end-September this year, Pacific Online, the Philippine Charity Sweepstakes Office’s exclusive online lottery system supplier in Visayas and Mindanao, had a total of 400 terminals, bringing to 1,354 PCSO’s total number of terminals.

Pacific Online chief financial officer Rhederick Inciong said sales of PCSO’s Instant Scratch lottery tickets have been brisk, surpassing its internal projections.

Launched in July, the scratch card game is in partnership with Scientific Games, which will design and print the scratch tickets to be used for PCSO’s Instant Scratch tickets.

 Pacific Online also recently launched “Lotto 2nd Chance Text Panalo” in partnership with Smart Communications, Wolfpac Mobile and ePLDT.  The text promo is intended to provide goodwill and give bettors a second chance of winning to help create and increase awareness of 27 million mobile susbcribers to the various existing or future numbers and digit games of the PCSO.

Pacific Online likewise fully implemented the EZ2 digit game, one of the best-selling games in Luzon.