Digitel losses narrow in 2006

2 May 2007

Filipino telecoms operator Digital Telecommunications Philippines (Digitel) reported narrowing losses in 2006, down from PHP1.5 billion (USD31.7 million) in full-year 2005 to PHP963 million last year. In a filing to the Philippine Stock Exchange (PSE), Digitel, a subsidiary of Gokongwei-owned JG Summit Holdings, said that service revenues were down 8% year-on-year from PHP8.3 billion to PHP7.6 billion, largely the result of declining traffic volumes and the strengthening of the peso. Revenues from the group’s mobile arm were also down which Digitel said was the result of the company’s focus on improving network coverage and quality. On a positive note, group revenues climbed 8% in 2006 from PHP10.5 billion to PHP11.3 billion.

Digitel provides voice and data transmission services via wireless and wireline access technologies. As of 31 December 2006 it had a total of 656,656 installed lines, of which 442,036 were active. The company’s wireline network covers 694 regional and local exchanges and is available in 281 towns and cities throughout Luzon.

Philippines