Telecommunications giant Philippine Long Distance Telephone Co. (PLDT) vowed to continue to invest in data and fiber innovation to help raise the global competitiveness of local enterprises and industries.
“There is a larger purpose to be served by our efforts. The key to our digital future lies in continued investment and innovation to provide progressively better, more relevant services to our people. This is vital not only for PLDT but more importantly for the country,” Napoleon Nazareno, president and chief executive officer of PLDT, said in his speech during the company’s annual stockholders’ meeting.
“Now that we have steered PLDT back into the growth path, our focus for 2014 is to maintain the momentum in profitability while we manage the transformation of our revenue mix. This involves expanding our data businesses while maintaining the equilibrium of our core businesses and managing the declines in our legacy services,” he added.
The company has taken the lead in this undertaking by building the country’s largest and most extensive internet infrastructure.
It is also aggressively developing content and multi-media services, as well as digital solutions for business and daily living.
“These are the technologies and services that the country needs to improve the welfare of the people, and to raise the global competitiveness of our enterprises and industries,” Nazareno said.
“We at PLDT are firmly committed to helping pave the way for the country’s digital future,” Nazareno said.
The company said it is expecting a better second-quarter performance than last year’s.
“It would be better than last year. The trend is broadly similar to the first quarter result. I think the fixed line business has been doing very well in the past years, in the first quarter and the second quarter [things are]going to be very well,” Manuel Pangilinan, PLDT chairman, told reporters on the sidelines of the company’s annual stockholders’ meeting.
“We reported the April results to the board, no forecast yet,” he added.
“It would be ahead of 2013, we are on the growth path,” he said.
PLDT earlier said its core net income of P39.5 billion in the first quarter is on track.