PLDT profits rise 22 per cent (Philippines)

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PLDT profits rise 22 per cent (Philippines)

March 15, 2006

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Philippine Long Distance Telephone Company (PLDT), the country's biggest phone company, has stated that its net income in 2005 rose 22 per cent to a record 34.1 billion pesos. The results were boosted by one-off gains that offset sharply lower growth in mobile phone subscribers. Revenue, almost two-thirds of which comes from the mobile phone business, rose by 5.1 per cent to 121 billion pesos during the year, well below the 14.5 per cent rise seen in 2004.