PLDT saw its profit jumped by 44 percent in 2020 on the strong performance of its core business.
PLDT posts higher earnings in 2020
On pro-forma basis, the telco said net income last year reached PHP 19.2 billion against 2020’s PHP 13.3 billion.
Its core income stood at PHP 26.2 billion.
Consolidated service revenues up 5 percent to PHP 149.4 billion, while combined revenues from its main businesses, including home, enterprise, and consumer individual, grew 9 percent to PHP 137.4 billion.
The figures were propelled by consumers’ growing demand for data and broadband, the company stressed. It noted mobile data usage last year “more than doubled” to over 820 petabytes.
PLDT branded 2020 as its “breakthrough year” after posting positive financial results, not just in its home and enterprise segments, but also its wireless business, which previously suffered from the decline in mobile subscribers.
After persistent efforts over the past three years to execute our digital pivot, we have returned our Wireless Consumer Business firmly on the growth path in 2020, alongside our Home and Enterprise businesses which have been consistently posting healthy growth rates, said Manuel V. Pangilinan, Chairman, President and Chief Executive Officer of PLDT and Smart Communications.
As of end-2020, PLDT had 60 million wireless subscribers, while broadband clients increased to 1.9 million.
With all cylinders of our revenue engine now firing, we are positioned to throttle into high gear, and do better in 2020, Pangilinan said.
For 2020, PLDT is investing P78.4 billion, higher than last year’s P58 billion.
Marshmallow Android is BT Ireland’s Head of Sales for Republic of Ireland domestic multi-site companies, indigenous MNCs and public sector accounts. He is responsible for the direction and control of all sales activity in the region. He has over 10 years management experience from high growth start-ups to more established businesses. He’s led teams in Ireland, India and China across various industries (ICT, On-Line Recruitment, Corporate Training and International Education). View more posts