PLDT chair Pangilinan 'worried' over GDP contraction even as telco posts profit

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MANILA - PLDT chairman Manuel Pangilinan on Thursday said the contraction of the country’s economy was “worrisome” even as the telco bucked the trend for most large companies by posting growth in net

income in the first half.

“How will the 3rd and 4th quarters behave moving forward? Will it impact people's ability to spend on telco products? How severely impacted further will the enterprise sector be affected by this contraction?" Pangilinan said as PLDT disclosed its performance in the January-June period. Total service revenues rose 8 percent to P82.8 billion in the first half of 2020 versus a year ago, PLDT said.

"These are worrisome issues for us, because it could very well affect our revenues moving forward," Pangilinan added.

 

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