Arab Today, arab today peso rise hits philippine telecom leader\s profits
Last Updated : GMT 14:54:27
Arab Today, arab today
Arab Today, arab today

Peso rise hits Philippine telecom leader\'s profits

Arab Today, arab today

Arab Today, arab today Peso rise hits Philippine telecom leader\'s profits

Manila - AFP

Philippine Long Distance Telephone said Tuesday the net profit dipped 1.75 percent year on year in the first half of this year, hit by the pesos strength against the US dollar. Unaudited net income for the six months to June fell to 21.299 billion pesos ($507.47 million), compared with 21.679 billion pesos in the first half of last year, president and chief executive Napoleon Nazareno said in a statement. \"We expect revenues to remain under pressure for the near term,\" Nazareno said. Revenues fell 3.31 percent to 70.78 billion pesos. PLDT\'s mobile phone voice charges dropped 7.0 percent to 19.9 billion pesos and short text message volumes fell 10 percent, even as subscribers rose five percent to 47.8 million. The firm has in the past blamed the rise of social network sites such as Facebook on declining revenues in these areas. Company chairman Manuel Pangilinan said 26 percent of PLDT\'s service revenues were linked to the US currency, and the rise of the peso this year cut revenues by 0.9 billion pesos. The dollar has lost about seven percent against the pesos over the past year. Orlando Vea, an adviser for PLDT\'s wireless unit Smart Telecommunications, said the group is pinning its hopes on the Internet, with the bulk of its capital spending directed at improving its broadband and wireless networks. The company has been offering free access to the social networking site Facebook on its high-end mobile phones, Vea said. \"Broadband remains our top priority as we believe there is much room to expand on this front.\" PLDT shares ended two pesos lower at 2,398 pesos before the announcement.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today peso rise hits philippine telecom leader\s profits Arab Today, arab today peso rise hits philippine telecom leader\s profits

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Turkey says ends its military operation

GMT 07:53 2017 Thursday ,30 March

Turkey says ends its military operation
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today 'Underwater wasteland' worries

GMT 10:32 2017 Thursday ,30 March

'Underwater wasteland' worries
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Mercedes, VW recall million vehicles in China

GMT 09:16 2017 Wednesday ,29 March

Mercedes, VW recall million vehicles in China
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Singer Rowida Attiya will issue a new song

GMT 07:38 2017 Tuesday ,28 March

Singer Rowida Attiya will issue a new song
Arab Today, arab today Trump moves to roll back Obama climate measures

GMT 08:39 2017 Wednesday ,29 March

Trump moves to roll back Obama climate measures

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 07:50 2017 Thursday ,30 March

Breaking trans barriers one barbell

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday