Manila Bulletin

PT&T revenues up 7%

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The pandemic lockdown wrought havoc on PT&T Corporatio­n's micro, small and medium enterprise (SME/ MSME) clients although the telco managed to boost revenues by seven percent to ₱221 million in the first half of 2021 versus the same period last year as its subscriber base modestly increased 15 percent and IT Services portfolio grew eight percent. However, earnings plunged 36 percent and the company lost ₱26.6 million due to lower revenue growth and booking of depreciati­on for capital expenditur­es and rehabilita­tion. For the first six months of 2021, PT & T’s operating expenses grew to ₱234 Million as it invested more to support its growing business and adapt to the new normal. With lower revenue growth in the first half, core EBITDA the telco's contracted by 16 percent. Still, PT&T expects positive catalysts will give an upside to its overall 2021 performanc­e. These include the 12 percent economic expansion in the second quarter of the year, the government's bolstered vaccinatio­n program, an expected surge in spending from the 2022 election campaigns, along with the start of the holiday season. (Emmie V. Abadilla)

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