Piltel 1H earnings increase

5 Aug 2005

Mobile operator Philipino Telephone Corp (Piltel) has posted a net profit of PHP4.6 billion for the six months to the end of June, up from PHP659 million in the same period last year. Service revenues rose 80% year-on-year to PHP5.19 billion, which Piltel attributed to increased popularity of its Talk ‘N Text brand which claimed five million subscribers at the same date. Income for the period grew from PHP88 million to PHP219 million, while expenses fell 71% in twelve months to PHP1.10 billion due to the lower cost of handsets. Piltel’s debt stood at PHP18.5 billion at the end of June.