PLDT keeps capex unchanged for 2014

November 26, 2013 8:40 AM

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By: Darwin G. Amojelar, InterAksyon.com November 26, 2013 4:34 PM

MANILA - Philippine Long Distance Telephone Co (PLDT) will spend about the same amount as this year for next year's capital expenditures, the telecom giant's chief executive said today.

On the sidelines of its 85th anniversary celebrations, Napoleon L. Nazareno told reporters that capex for 2014 is "more or less the same level as this year."

The country's largest telecom company has allotted P29 billion for capex this year for its network expansion, including the rollout of its fiber facilities. Of this year's capex, PLDT had spent about P15 billion at end-September this year.

Nazareno said 60-65 percent of its 2014 capex would be spent on PLDT's broadband business, with another 25 percent for the rollout its fiber-optic network.

At end-September, PLDT expanded its fiber optic network to about 75,000 kilometers to support the growth of its broadband data service business.

Nazareno said the company expects to complete its 3G network rollout in the third quarter of next year.

PLDT's nine-month core profit, which excludes foreign exchange transactions and other non-recurring income, grew by four percent to P28.8 billion from last year's P27.7 billion. In the third quarter alone, core net income went up by two percent to P9.39 billion from last year's P9.24 billion.

Including the forex and other non-recurring transactions, PLDT's net income reached P28.95 billion, a two percent increment from last year's P28.38 billion. In the third quarter alone, earnings hit P9.25 billion, up from last year's P9.1 billion.

Consolidated service revenues grew two percent to P121.6 billion in the first nine months from last year's P119.05 billion. In the July to September period, PLDT's topline climbed to P40.6 billion from last year's P39.32 billion.

InterAksyon.com is the online news portal of TV5, a member of the PLDT group.

Source: interaksyon.com

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