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PLDT earnings up 5% to P13 B from P90-B revenues


Published August 5, 2021, 3:40 PM
Driven by the growth of its data/broadband business, PLDT Inc. netted ₱12.9 billion earnings, up 5% on ₱89.9 billion revenues, up 8.5%, in the first half of this year.
The telco’s core income ( excluding the impact of asset sales and Voyager Innovations) climbed 10% year-on-year to ₱15.2 billion due to lower tax rates.
Consolidated EBITDA hit an all-time high, of 8% year-on-year to ₱46.6 billion, excluding MRP (Manpower Reduction Program) expenses, driven by higher service revenues while EBITDA margin was at 51%.
“Though we are seeing the economic impact of the pandemic, we still expect overall revenue growth for the year,” says Chairman Manuel V. Pangilinan. ....

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MVP-led firm PXP Energy ready to drill at Recto Bank


Published July 29, 2021, 1:54 PM
Pangilinan-led PXP Energy Corporation is now ready to advance on its drilling plan for two exploratory wells at its awarded oil and gas block at the Recto Bank, a petroleum basin under Service Contract (SC) 72 that is part of the diplomatically-strained territory in the West Philippine Sea.
PXP Energy Chairman Manuel V. Pangilinan indicated that the company “is ready to go in terms of (drilling) exploratory wells – two wells – and further surveys of the concession.”
PXP Energy Chairman Manuel V. Pangilinan
He nevertheless stated that there is no agreement sealed with China National Offshore Oil Corporation (CNOOC) or with the Chinese government yet on propounded joint exploration activity, therefore, that is a major geopolitical risk that has been flustering the energy firm when it comes to advancing its work program in that Northwest Palawan petroleum block. ....

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