EconomyEditor's PickPLDT expects ‘big growth’ in 2022

November 14, 2021

PLDT, Inc. on Sunday said it anticipates “big growth” in the coming year, as it expects to surpass its one million new fiber customers target for this year.

“We are in a position of strength both in the home and enterprise segments, and are determined to stay head,” PLDT and Smart Communications, Inc. President and Chief Executive Officer Alfredo S. Panlilio said in an e-mailed statement.

“We have new ports coming in that will enable our Home team to offer our services to all Filipinos that remain unserved. As this continues to be a huge demand, we look forward to big growth as well next year,” he added.

PLDT said it breached the 800,000 new installations mark as of end-September.

Its Home business saw more than 324,000 new fiber customers in the previous quarter.

“Demand for easy installation and reliable connectivity at home continues to drive PLDT’s Home business growth streak as more customers adjust to the digitalization of hybrid work and school setups,” PLDT noted.

The telco’s fiber footprint now spans over 615,000 kilometers, with over 12.7 million homes passed and 5.3 million ports ready for service.

As of the third quarter, PLDT’s attributable net income declined 4.6% to P18.8 billion from P19.7 billion a year ago.

PLDT’s telco core income, which excludes the impact of asset sales and Voyager Innovations, climbed “10% year on year, or P2.1 billion, to P23.1 billion in the first nine months of 2021, helped by lower tax rates,” the company said in a statement.

PLDT Home saw its revenue increase 25% to P35.3 billion for the January-September period. Its third-quarter revenue went up 29% to P12.6 billion.

Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Arjay L. Balinbin

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