ETPI forecasts 8% rise in FY2010 revenue

1 Jun 2010

The Philippines’ oldest telecoms operator, Eastern Telecommunications Philippines Inc (ETPI), is forecasting ‘steady growth’ in terms of net income in 2010, while revenues are also expected to increase by between 6%-8% year-on-year. Business Mirror quotes ETPI president and CEO Mario Locsin as saying his company hopes to book revenues of PHP1.1 billion (USD23.85 million) this year and a net income of about PHP130 million. ‘We may probably hit the same bottom line as last year and our revenues may grow by 6% to 8%,’ he said, adding that growth in revenues will continue to be driven by data and internet operations. ETPI provides a range of direct internet access services, post-paid and pre-paid DSL, and wireless access, international private leased circuit, domestic leased circuit, integrated service digital network, and Ethernet, among others. In 2009 the telco says it reached its target of net income of PHP130 million, on revenues of PHP987 million. In 1Q10 it posted turnover of around PHP250 and net income of PHP7-PHP8 million. Going forward, ETPI has plans to invest PHP800 million this year, an increase of PHP100 million from 2009. ‘We will continue to build our network as 85% of our business is with large companies, small- and medium-scale enterprises and institutions,’ Locsin said.

Philippines, Eastern Communications