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PLDT bullish on surpassing P30-B core profit guidance

Posted on March 4, 2021 at 9:30 PM

PLDT Inc. is optimistic to surpass its core profit guidance for 2021 as it expects robust performance across its wireless and broadband businesses.

 

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The telco is eyeing to grow its core telco income by 6% or within P29 billion to P30 billion range this year.

 

 

“Anchored on the sustained demand for our data and broadband services, we expect a high single digit increase in consolidated service revenues and telco core income in the vicinity of P29-30 billion,” PLDT chairman and CEO Manuel Pangilinan said.

 

“But we won't stop at P30 billion, we want to push on,” he said.

 

In 2020, despite the presence of COVID-19 pandemic, PLDT managed to grow its net income by 8% to P24.3 billion with revenues hitting an all-time high of P171.5 billion.

 

Telco core income, meanwhile, climbed 4% to P28.1 billion.

 

“Despite PLDT’s stellar performance, it is with great relief that we put 2020 behind us. It is tempting to say that we have seen the worst but 2021 comes with its own set of challenges–a worrisome economic outlook, prolonged uncertainty on the pandemic with possible new waves, mutations and a delayed vaccine rollout and of course, the entry of heightened competition from both new and current players,” Pangilinan said.

 

 

“But with confidence built on how we not only weathered but thrived despite the ‘year from hell’ that was 2020, we anticipate more growth in 2021,” he added.

 

For this year, PLDT has set a capital expenditure of P88 billion to P92 billion this year.

 

The capex will be used to roll out over 3,000 5G base transceiver stations (BTS), over 4,000 4G BTS, over 1.7 million fiber to the home ports, and 125,000 kilometers of fiber.

 

“We continue to invest heavily in our networks, looking at another P88-92 billion this year. If we are able maintain our momentum and deliver results as expected, we are prepared to consider paying out a 5% special dividend for 2021, on top of our regular dividend pay- out of 60%,” Pangilinan said. -MDM,

Categories: News, Nation, Info Tech

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