PLDT’s fixed line business posts 6% gain to P28.1-B in 1H

MANILA, Aug. 12 (PNA) — The Philippine Long Distance Telephone Company (PLDT) reported significant growth in its fixed line business for the first half of the year by six percent year-on-year to P28.1 billion.

In a statement, PLDT noted that this growth bucked the global downward trend in telco fixed line services, on the back of double digit gains in data and broadband revenues.

PLDT president and CEO Napoleon L. Nazareno said that the company’s fixed line business continues to deliver a strong performance as business and revenues from retail and corporate customers continue to grow steadily.

Fixed broadband revenues, accounting for 46 percent of total fixed line data revenues, grew by 14 percent to nearly P6.8 billion as of the first half, driven by an 11 percent growth in subscribers.

Meanwhile over 47 percent of PLDT’s total 2.2 million fixed line subscribers have fixed broadband subscriptions as of June this year.

As for data center revenues, PLDT pointed out that it improved by 18 percent to hit the P1 billion mark, contributing seven percent to total fixed line data revenues.

Furthermore, revenues from corporate data and other network services increased by seven percent to P7 billion, representing 47 percent of total fixed line data revenues.

The PLDT president and CEO noted that the strong growth of PLDT’s data services helped offset the revenue declines from legacy businesses such as international and long distance.

“The ongoing structural shift in our revenue mix continues to impact our performance. Our growing revenues, or those from our data businesses, are now larger than those from our legacy businesses,” Nazareno said. (PNA)