MANILA, Philippines – PLDT chairman Manny Pangilinan anticipated bigger challenges in the coming year even as the company posted a record-high, P142-billion revenue.
by the Federal Reserve. Such a move would likely make it more expensive for companies like PLDT to acquire fresh investments, and would add more pressure to post higher returns for those investments. “We are also watching our capex levels, especially the impact of the weakening peso on our dollar-denominated debts and imported capex, even capex committed in previous years and current ones,” PLDT president and CEO Alfred Panlilio said.But it wasn’t just interest and forex rates troubling the telecom giant. Pangilinan also pointed to theand inflation as other sources of volatility, worsening fuel and food prices.
“Your real weapon for economic recovery will be investments,” he said. “When you do that, you create new jobs, and when you create new jobs, there’s more income flowing to the income stream.”Despite these hurdles, PLDT posted a record-high, P141.9-billion net service revenue. This represented a 4.5% increase from the previous year, which executives have attributed to consumers embracing a digital post-pandemic lifestyle. Telco core income also rose to P25.
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