Thursday, February 22, 2007 Telephone company sees profits in 2006
TELECOMMUNICATIONS giant Philippine Long Distance Telephone COmpany (PLDT) is optimistic that it will post a sizeable amount of revenues again last year compared to 2005.
PLDT chairman Napoleon Nazareno said they will release their 2006 revenue report on March 6.
Nazareno said they expect "double" revenues for 2006 and this could be attributed to the increase in the number of cellular phone subscribers of Smart Communications Inc., a sister-company of PLDT.
He said they have an estimated 24 million landline and mobile phone subscribers.
In 2005, PLDT recorded a net profit of P34 billion (or US$656 million) or a 22 percent growth year-on-year. The company's 4th quarter net income in 2005 rose 80 percent from P5.4 billion to P9.7 billion from 2004.
Nazareno revealed that PLDT has allocated P20 billion for capital expenditures in 2007 and half or P10 billion will be used for the expansion of their broadband and wireless services, particularly its next generation services. (MSN/Sunnex)
