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.
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.