Home broadband, enterprise segments boosted PLDT H1 earnings

After posting further growth in the first half, Manuel Pangilinan-led PLDT Inc. is on track to achieving its full-year target, banking on home broadband and enterprise segments to boost its revenue channels.

The listed telecommunications firm reported on Thursday that its net income attributable to equity holders of the parent company climbed by 30 percent to P16.74 billion in the first half, supported by its topline figures that grew by 6 percent to P101.39 billion.

Telco core income, meanwhile, rose by 12 percent to P17 billion as of end-June.

With PLDT remaining on an upward earnings trajectory, PLDT president and CEO Alfredo Panlilio said that the company would achieve its target of booking mid-single-digit growth in terms of service revenues.

“Home broadband will lead this growth, with enterprise also expected to register stronger performance, underpinned by ICT (information and communication technology),” he explained.

Revenues from home broadband were up 24 percent to P28.1 billion in the first half while the enterprise segment raked in P23.2 billion, showing 9-percent growth from a year ago.

In the first half, PLDT spent P46 billion of its P85-billion programmed capital expenditure for the year. This includes investment in home broadband business, data center and international cabling systems, among others.

It deployed additional 1.92 million fiber ports in the first half, bringing the total to 6.72 million.

Last week, PLDT activated its 14,000-kilometer US-Transpacific Jupiter Cable System, linking United States, Japan and Daet, Camarines Norte.

This tripled the company’s international capacity to 60 terabits per second. PLDT also concluded the second closing of its landmark P77-billion sale and leaseback deal for its 5,907 towers earlier this week.

An additional 1,013 towers amounting to P13.2 billion were transferred to the buyers. It has completed the sale of 4,025 towers so far, which is 68 percent of the total portfolio.

“Improved customer experience is one of the key transformational goals in PLDT’s aspirational 2025 vision and strategy, under which the company is also establishing new ways of working and a much higher pace of execution,” Panlilio said.