Last updated on May 6th, 2021 at 10:49 am
Pangilinan-led PLDT Inc. is set to increase its capital expenditure plan by 13,85 per cent this year, primarily to support its data sector and information technology (IT) ventures.
Advertising According to PLDT president and chief executive officer Manuel Pangilinan, the firm will invest P83 billion this year, up from P72.9 billion in 2019.
This sustained degree of investment in the country’s telecommunications infrastructure has now reached P257.7 billion over the last five years. But to further improve our service quality levels and achieve unparalleled customer experience (CX), PLDT has approved a greater capex budget of P83.0 billion for 2020.
According to Pangilinan, this amount will be used mainly to enhance the increasing use of data to support customer experience.
Of this number, PLDT will spend P64.6 billion on network and IT projects, mainly to support data traffic. P18.5 billion will also be invested on broadband installations.
In a briefing in Makati City, the company reported a core net income of P7.7 billion in the fourth quarter, up 56% or P2.8 billion.
This raised the company’s registered sales by P22.5 billion, up 19 percent or P3.6 billion from the previous year.
Despite continuing challenges, 2019 was a fruitful year, with sales hitting record levels behind the robust growth of our wireless customer sector. This was done in large part by making the necessary investments in our data and IT networks.