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TEL sets modest growth forecast after 2014 profit slips

04 Mar

BY UNICAPITAL SECURITIES

Philippine Long Distance Co. (TEL) expects modest growth for 2015 after last year’s earnings shrank.

Its net income fell by 4% to PHP 34.1 billion last year from PHP 35.4 billion in 2013.

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In the fourth quarter alone, earnings dropped 5% to PHP 6.13 billion from the previous year’s PHP 6.47 billion.

Core profit fell by 3% to PHP 37.4 billion in 2014 from PHP 38.7 billion the year before.

In the fourth quarter alone, core profit was down 11% to PHP 8.85 billion from PHP 9.93 billion previously.

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Posted by on March 4, 2015 in Corporate News, Stock Market, TEL

 

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