PLDT 2018 bottom line down 7%

PLDT Inc. on Thursday reported a 7 percent decline in its core income for the full-year 2018.

In a press conference in Makati City, the Pangilinan-led telecommunications company said its core income dropped 7 percent to P25.855 billion, on losses from Voyager Innovations Inc. during the period.

On the other hand, the reported net income gained 41 percent to P18.916 billion, as consolidated service revenues rose 2 percent to P146.87 billion, marking the return of growth in overall service revenues last recorded in 2014.

On a pro-forma basis, revenues from data and broadband rose 37 percent year on year to P90.2 billion in 2018, accounting for 60 percent of the total.

"With all cylinders of our revenue engine now firing, we are positioned to throttle into high gear, and do better in 2019," said Manuel Pangilinan, chairman, president and CEO of PLDT and Smart Communications.

"After persistent efforts over the past three years to execute our digital pivot, we have returned our Wireless Consumer Business firmly on the growth path in 2018, alongside our Home and Enterprise businesses which have been consistently posting healthy growth rates," he added.

For this year, PLDT has allocated a record high capital expenditure program of P78.4 billion, P20 billion higher than the previous year.

"The aggressive roll-out is intended to further push the already significant network advantage of PLDT and Smart, and, to support our active campaign for more revenues," said PLDT.

The company in 2018 allotted a historic high amount of money -- north of P40 billion -- in 2018, in preparation for the entry of a third telecom player.

The company in 2018 also inked agreements with Tencent Holdings and global private equity firm KKR & Co. Inc. to separately subscribe to a total of up to $175 million worth of newly-issued shares in Voyager. —LDF, GMA News