Philippine Long Distance Telephone Company has recently reported an increase of almost 12-percent (11.99%) on its consolidated income in 2012 which amounts to Php35.5B compared to Php31.7B in the previous year. The company credits this profit upsurge to the success it garnered from various business branches including the acquisition of DigiTel (Sun Cellular).
In a disclosure, CEO and President of PLDT and Smart Communications Napoleon Nazareno further elaborates the reason behind this significant growth by saying “The intense competition in the wireless space, the integration of Digitel and Sun operations into the group, the continued push for the growth of broadband, the completion of our network transformation, the rationalization of our business portfolio leading to the sale of our BPO businesses, and the beginning of our involvement in the media space.”
“Our financials for 2012 reflect full year results of Digitel for the first time, as well as our successful navigation of the various challenges we faced during the year,” he adds.
The company’s total net income jumps by 12.32% amounting to Php172.63B. According to the company, this substantial growth is mainly attributed to the 10% increase in overall consolidated service revenues for 2012 which reflects the 15% increase in both their wireless and BPO revenues and 4% rise in fixed line revenue.
On the other hand, PLDT’s core net income dips by 4.36% from Php39B in 2011 to Php37.5-billion the year after. The company states in the disclosure that this slight decrease is caused by higher operating expenses in 2012.
The post PLDT hits pay dirt, reports 12% profit growth appeared first on YugaTech | Philippines, Tech News & Reviews.