PLDT on path to sustained growth, core income seen to hit over P26B
Telco giant PLDT Inc. sees core earnings growing to over P26 billion this year, powered by the strong growth in its wireless and data businesses.
“I think 2019 will be better. I think core earnings will be better than P26 billion,” PLDT chairman and president Manuel V. Pangilinan told reporters following the company’s annual stockholders meeting today.
Last year, PLDT’s core earnings, excluding Voyager operations, rose 2 percent to P24 billion.
“The numbers are looking good, fueled mainly by the growth in the wireless side,” he said.
The wireless business recovered from a string of revenue declines in the previous years. It ended 2018 with revenues of P62.5 billion, up 7% year on year. The Enterprise and Home segments also saw revenues rise by 10 percent to P38.4 billion and P36.4 billion, respectively.
The broadband and data segment posted the biggest gains as revenues surged 37% to P90.2 billion or 60 of the total.
The company’s consolidated service revenues grew 2 percent to P145.8 billion in 2018.
To sustain its robust growth, PLDT is embarking on yet another record high capex program of P78.4 billion, P20 billion higher than the previous year.