PLDT Inc. yesterday said its profit grew by 5 percent to P13 billion in the first half this year, driven by the sustained growth of its home broadband and mobile businesses.
PLDT’s consolidated service revenues rose by a record 9 percent to P89.9 billion in January to June, as compared to P82.8 billion in the same period last year, driven by data/broadband revenues which jumped 16 percent to P68.3 billion.
Telco core income which excludes the impact of asset sales and Voyager Innovations climbed 10 percent year-on-year to P15.2 billion in the first half of 2021, helped by lower tax rates.
In a virtual press briefing, Manual Pangilinan, PLDT chairman, said the company is set to achieve its target of P30 billion telco core income for the full year as service revenues in the first half are expected to be sustained in the second semester.
“We expect a high single digit increase in consolidated service revenues and we are on track to hit our telco core income target of P30 billion,” he said.
For capital expenditure, PLDT will spend P90 billion this year, up 20 percent from last year, with the bulk to be used for its fifth generation network and fiber expansion, according to Pangilinan.
Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) hit an all-time high, growing 8 percent to P46.6 billion, excluding manpower reduction program expenses, driven by higher service revenues.
EBITDA margin was at 51 percent in the first half of 2021.
