MVP sees PLDT attaining income goal of P35 B

Industry leader PLDT Inc. is projected to close the year achieving its target of raising P35 billion in core income, as the telco managed to squeeze in profit growth amid market challenges.

-  ELIJAH FELICE ROSALES

Based on its financial report, PLDT raised its profit by one percent to P28.07 billion in the nine months to September, from P27.9 billion a year ago, as revenue grew at a pace quicker than the increase in expenses.

PLDT's core income, measured as net income excluding non-telco ventures, inched up by two percent to P26.68 billion, signaling the steadiness of its flagship business.

PLDT chairman, president and CEO Manuel V. Pangilinan believes the telco is on track to reach its yearly guidance of P35 billion in core income.

However, he said the challenge is for PLDT to keep up with evolving consumer demands on the connectivity front.