PLDT profit rises

9 Nov 2005

Philippine Long Distance Telephone (PLDT) saw its profit rise by13% in the first nine months of the year to PHP25 billion (USD457 million). Sales fell by 3.4% to PHP92.6 billion during the same period. The operator said it is counting on a rise in full-year income, with which it hopes to repay USD700 of debt. The company’s two wireless businesses, Smart and Piltel, stopped giving away free airtime during the quarter, a move which resulted in a decline in revenue from mobile calls and a loss in customer numbers as they registered more disconnections than new subscriptions during the period.