C01595-2016

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Mar 29, 2016
2. SEC Identification Number
A200117708
3. BIR Tax Identification No.
219-934-330
4. Exact name of issuer as specified in its charter
XURPAS INC.
5. Province, country or other jurisdiction of incorporation
Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
7F Cambridge Centre Building, 108 Tordesillas St., Salcedo Village, Makati City Postal Code 1227
8. Issuer's telephone number, including area code
(632) 889-6467
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 1,720,000,660
11. Indicate the item numbers reported herein
9

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Xurpas Inc.X

PSE Disclosure Form 4-30 - Material Information/Transactions References: SRC Rule 17 (SEC Form 17-C) and
Sections 4.1 and 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Results of Board Meeting
Background/Description of the Disclosure

At its meeting held on March 29, 2016, the Board of Directors of Xurpas Inc. ("Xurpas") approved the following:
1. 2015 Audited Financial Statements; and
2. Re-appointment of SyCip Gorres Velayo & Co. as external auditor.
Other Relevant Information

Below is a summary of the 2015 audited financial figures of Xurpas:

Xurpas ended the year 2015 on a high note, with revenues surging 135% to P921.22 million versus P392.22 million in FY2014. The tech firm's strong revenue performance was driven by both the company's core business, as well as by acquisitions. Xurpas' core mobile consumer services accounted for P266.69 million or 50% of the total P529 million net increase in revenues. Xurpas' gross profit increased 93% to P536.71 million for the year from P278.35 million in 2014, with robust gross margins of 58%.

Xurpas' net income before tax climbed 38% to P331.10 million in FY2015 versus P239.14 million the previous year, while operating margins were a very healthy 36%. Xurpas' net income for the year increased 20% to P229.62 million despite the expiry of Xurpas' tax holiday in 2014, an increase in expenses due to new business investments, market expansion to Indonesia, and other non-recurring expansion related costs. Xurpas' core net income for 2015 stood at P250.80 million, when non-recurring expenses related to its acquisitions are excluded.
Filed on behalf by:
Name Mark Gorriceta
Designation Assistant Chief Information Officer