PLDT says first half net profit rose 30%, warns of ''headwinds'' in second half
PLDT Inc. on Thursday said net profit grew by 30 percent in the first half , but warned of "stronger headwinds" in the second half due to inflation.
It reported a net profit of P16.74 billion in January to June, surpassing the P12.92 billion in the same period last year.
Telco core income, excluding the impact of asset sales and Voyager Innovations, reached P17 billion, up 12 percent from P15.21 billion last year.
Consolidated revenues were up by six percent to P47.9 billion in the first half .
''We expect stronger headwinds in the second half, with higher inflation impacting our customers' pockets as well as our own operating cots," said Manuel V. Pangilinan, PLDT chairman.
Inflation in June rose to a 43-month high of 6.1 percent from 3.7 percent a year ago, the Philippine Statistics Authority (PSA) said. The PSA will announce July inflation on Friday. DMS
