PLDT income increases by 30% to reach 16.7 billion pesos in the first half

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MANILA, Philippines – PLDT Inc., led by Pangilinan, weathered the economic woes in the first half by posting a 30% increase in profits, bolstering its second half outlook as it looks to strike a deal with ABS-CBN Corp.

PLDT announced yesterday that its net income increased by 30% to 16.74 billion pesos in the first half, compared to 12.92 billion pesos a year ago, as personal and business incomes reached highs. unprecedented heights.

In addition, basic income – calculated as net income adjusted for the net effect of gains and losses from various factors – increased by 12% to 17 billion pesos from 15.21 billion pesos.

In addition, earnings before interest, taxes, depreciation and amortization (EBITDA) rose 8% to 50.45 billion pesos in the first half, from 46.6 billion pesos a year ago. Thus, PLDT’s EBITDA margin improved by one percentage point to 52%.

Similarly, PLDT said its service revenue rose 5% to a record 94.3 billion pesos from 89.9 billion pesos. Although the individual segment fell 6% to 41.2 billion pesos, the household and business slices reached all-time highs of 28.1 billion pesos and 23.2 billion pesos, respectively.

The telecom giant also said it spent a total of 46 billion pesos on capital expenditures in the first half, consisting of investments in its home broadband business, construction of its 11th data center, expanding its cable systems and adding new towers.

PLDT Chairman Manuel V. Pangilinan announced that the company was close to reaching an agreement with ABS-CBN to air its shows on TV5.

“I think it’s fair to characterize, and we’ve had discussions with them for over a year, but it’s fair to characterize that we’re in the final stages,” Pangilinan said.

Pangilinan said the partnership would be 65% owned by TV5’s parent company MediaQuest Holdings Inc. and 35% by ABS-CBN. However, he clarified that the working agreement only goes so far as to broadcast ABS-CBN shows on TV5, without any acquisition of shares.

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