IPVG reports P1.7B in revenues for first half of 2008
By Lawrence Casiraya
INQUIRER.net
First Posted 14:45:00 08/20/2008
Filed Under: business process outsourcing (BPO), Technology (general)
MANILA, Philippines -- Publicly listed firm IPVG Corp. reported P1.7 billion in total revenues for the first six months of the year, largely driven by its outsourcing business.
Enrique Gonzalez, IPVG chief executive, said business process outsourcing or BPO accounted for more than 60 percent of total revenues. In the first half, BPO revenues surpassed more than a billion pesos, from barely P1.5 million last year.
First-half growth is due to IPVG' acquisition of US-based call center operator Influent, which contributed more than P1.03 billion in revenues.
IPVG's other BPO subsidiaries IPCCO (IP Contact Center Outsourcing) and I-PCV (I-Pay Commerce Ventures) contributed P53 million and P270,000, respectively.
BPO, however, accounted for more than P75 million in losses, due to one-time expenses in the first half related to IPVG's acquisitions.
Meanwhile, IPVG reported revenues of P434 million from its communications business and P278 million from its gaming and mobile businesses.
"Some of our businesses like MegaMobile are still in gestation period of its businesses and we expect to reverse losses the rest of the year," Gonzalez said in a media briefing Wednesday.
Earlier this year, IPVG acquired a 70-percent stake in mobile content developer MegaMobile valued at P6.4 million.
Meanwhile, Gonzalez said IPVG continues to focus on increasing capacity utilization in local call center unit IPCCO, which runs a total capacity of 260 seats.
"Our utilization rate is currently at 50 percent and once we hit 80 (percent) we will begin to expand and build new facilities," he said.
Seat capacity, he added, is not a good measure for revenue generation because IPVG is maximizing capacity by running two to three shifts per seat.
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