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PLDT hikes 2022 spending to PHP 85 billion

PLDT Inc. is increasing its investment for network rollout this year to PHP 85 billion from the initial PHP 76-80 billion.
PLDT hikes 2022 spending to PHP 85 billion
PLDT discloses 2022 capex

More investments allotted for network upgrades

In a statement, the telco giant said the increase will support updated requirements for the home broadband and data center business and additional upgrades of the towers and passive infrastructure assets.

It also told the Philippine Stock Exchange that its core income grew by 9 percent to PHP 8.2 billion in the January-March period. Reported net income likewise went up to PHP 9.1 billion.

The group's consolidated service revenues hit an all-time high of PHP 46.4 billion driven by its home and enterprise businesses.

Home service revenues climbed 25 percent to PHP 13.6 billion, while enterprise revenues reached PHP 11.6 billion.

Individual wireless revenues, on the other hand, hit PHP 20.4 billion as mobile traffic increased in the first quarter.

I am encouraged with our strong start for 2022... That said, we must stay the course in order to generate greater free cash flow from higher revenues, cost optimization and the sale of our Towers – the last of which could enhance income this year and in succeeding year, PLDT Chairman Manuel V. Pangilinan.

Last month, PLDT inked the sale and purchase agreements with foreign tower companies for the sale of nearly 6,000 towers. The transaction is priced at PHP 77 billion.

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