PLDT profit 21% higher in 1st quarter to P10.4B

Philippine Long Distance Telephone Co.'s (PLDT) net profit for the first quarter of 2008 went up by 21 percent to P10.4 billion from P8.6 billion in 2007. Service revenues increased by 6 percent to P34.9 billion. Earnings before income tax, depreciation and amortization (EBITDA) improved by seven percent to P21.8 billion while EBITDA margin improved slightly to 63 percent. The company's debt in March stood at approximately $406 million. Free cash flow stood at P17.3 billion in the first quarter. Capital expenditures were at P3.1 billion with spending expected to accelerate. Wireless service revenues grew 8 percent to P22.5 billion for the first quarter from P20.8 billion in the same period last year.

in Daily Tribune by Earl Paolo Jaculbe
May 7, 2008
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