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PLDT posts 12% hike in
net income for 2012

MAKATI City-Philippine Long Distance Telephone Company President and Chief Executive Officer Napoleon Nazareno reported here yesterday the increase of the firm's net income by 12 percent in 2012.

Nazareno, who spoke during PLDT's annual stock Holder's meeting at the Shangrila hotel, said their net income last year was P35.4 billion while it was only P31.6 billion in 2011.

He said that at the end of last year, PLDT's total customer base grew to 75 million from 69 million in 2011 with cellular subscribers, which already reached 70 million, topping the lists.

PLDT's record also showed that their combined fixed and wireless broadband services revenues improved by 26 percent year-on-year to P23.7 billion in 2012 and they are now accounting for 13 percent total group service revenues.

Nazareno said their fixed line service revenues for 2012 rose by 4 percent from end of 2011 to P61.3 billion as increase in revenues from DSL and corporate data and other network services offset declines in international and national long distance revenues.

He said their huge investment in Digitel in 2011 required them to focus on alignment and adjustments in 2012 and at the same time, they completed their network transformation program which also involved hefty infrastructure investments.

Manny Pangilinan, PLDT chairman of the board, said that to maintain their growth momentum, they need to focus on execution and innovation.

Pangilinan said excellent execution is the key to implementing synergy programs that they have developed to capitalize on digital acquisition.

He also said that, through their different investments and transformation initiatives, the PLDT Group has positioned itself well in the emerging digital and multimedia world.*APN

 

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