The Philippine Long Distance Telephone Co. (PLDT) reported on Tuesday its consolidated core net income for 2013 reached P38.7 billion, up 5 percent, or P1.8 billion higher than the P36.9 billion recorded in 2012.
“I am pleased to note that PLDT has turned the corner and is back on the growth track as demonstrated by the marked improvement in our 2013 numbers and early indications from the first two months of 2014,” Manuel Pangilinan, chairman of PLDT, told reporters in a press briefing.
PLDT’s guidance for 2014 core net income stands at P39.5 billion.
“In the last two years, PLDT operated within a challenging competitive environment, while working to integrate Digitel and Sun Cellular into PLDT Group,” Napoleon Nazareno, PLDT president and chief executive officer, said.
For its capital expenditure this year, PLDT is allocating P32 billion, which is P3 billion more than the P29 billion of 2012.
“We are strengthening our fiber footprint to 90,000 kilometers from 78,000 kilometers. We are completing the ‘fibering’ of our base stations and also, we are expanding the footprint of our third generation [3G] network that should be 100 percent coverage,” Nazareno said.
“By third [quarter of 2014]I think we will hit that 100-percent 3G covering,” he added.
At present, the company’s 3G coverage is about 87 percent all over the country.
Nazareno said that PLDT is not able to reach the remote provinces, particularly west Mindanao, because of security issues in the region.