FIRST PACIFIC COMPANY LIMITED Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
第一太平有限公司(Incorporated with limited liability under the laws of Bermuda)
Website: http://www.firstpacific.com
(Stock Code: 00142) ANNOUNCEMENT MADE BY PLDT INC. IN RELATION TO ITS UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2016This Announcement is made by First Pacific Company Limited ("First Pacific" or the "Company") pursuant to the requirements of Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited ("HKEX") and the Inside Information Provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) to provide shareholders of First Pacific and the public with the unaudited consolidated financial results of PLDT Inc. (formerly known as Philippine Long Distance Telephone Company) ("PLDT"), a major operating associate of the Company, for the nine months ended 30 September 2016.
SummaryOn 14 November 2016, the board of directors of PLDT approved the release of its unaudited consolidated financial results for the nine months ended 30 September 2016. PLDT's unaudited consolidated financial results have been submitted to the PSE and the NYSE by way of disclosure on 14 November 2016, and have also been disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company.
PLDT, a major operating associate of First Pacific, is a company incorporated in the Philippines, whose shares are listed on the Philippine Stock Exchange, Inc. ("PSE"). In addition, PLDT's American Depositary Receipts are listed on the New York Stock Exchange, Inc. ("NYSE"). First Pacific and its Philippine affiliates have a 25.6% attributable economic interest in PLDT. On 14 November 2016, the board of directors of PLDT approved the release of its unaudited consolidated financial results for the nine months ended 30 September 2016. PLDT's unaudited consolidated financial results have been submitted to the PSE and the NYSE by way of disclosure on 14 November 2016, and have also been disclosed as the Company's Overseas Regulatory Announcement on the websites of the HKEX and the Company. The unaudited consolidated financial statements have been prepared in conformity with the Philippine Financial Reporting Standards and are presented in Philippine Peso. PLDT's unaudited Consolidated Income Statements for the nine months ended 30 September 2016 and 2015, as well as the unaudited Consolidated Statement of Financial Position as at 30 September 2016 and the audited Consolidated Statement of Financial Position as at 31 December 2015 are provided below:
PLDT INC. AND SUBSIDIARIES CONSOLIDATED INCOME STATEMENTS FOR THE NINE MONTHS ENDED 30 SEPTEMBER 2016 AND 2015(in million pesos, except earnings per common share amounts which are in pesos)
2016 2015 (Unaudited) REVENUESService revenues 118,932 122,001 Non-service revenues 6,454 5,870
125,386 127,871
EXPENSESDepreciation and amortization 22,603 21,187
Compensation and employee benefits 15,078 16,376
Cost of sales 14,279 11,709
Asset impairment 12,914 2,662
Repairs and maintenance 11,346 11,271
Interconnection costs 7,102 7,637
Professional and other contracted services 6,689 6,049
Selling and promotions 6,441 7,379
Rent 5,124 4,704
Taxes and licenses 3,008 2,843
Insurance and security services 1,291 1,349
Communication, training and travel 1,007 995
Amortization of intangible assets 821 805
Other expenses 771 831
108,474 95,797
16,912 32,074
OTHER INCOMEEquity share in net earnings of associates
and joint ventures 1,477 2,668
Interest income 743 590
Gains on derivative financial instruments - net 511 447
Foreign exchange losses - net (1,434) (2,523)
Financing costs - net (5,430) (4,550) Other income - net 9,381 3,987
5,248 619
INCOME BEFORE INCOME TAX 22,160 32,693 PROVISION FOR INCOME TAX 6,260 7,338 NET INCOME 15,900 25,355 ATTRIBUTABLE TO:Equity holders of PLDT 15,865 25,339
Noncontrolling interests 35 16
15,900 25,355
Earnings Per Share Attributable to Common Equity Holders of PLDTBasic | 73.22 | 117.07 |
Diluted | 73.22 | 117.07 |
(in million pesos)
As at 30 September 2016 (Unaudited) | As at 31 December 2015 (Audited) | |
ASSETS Noncurrent Assets Property and equipment | 198,495 | 195,782 |
Investments in associates and joint ventures | 56,080 | 48,703 |
Available-for-sale financial investments Investment in debt securities and other long-term investments - net of current portion | 12,647 748 | 15,711 952 |
Investment properties | 1,864 | 1,825 |
Goodwill and intangible assets | 72,150 | 72,117 |
Deferred income tax assets - net | 22,058 | 21,941 |
Derivative financial assets - net of current portion | 270 | 145 |
Prepayments - net of current portion Advances and other noncurrent assets - net of current portion | 5,517 9,602 | 3,475 3,003 |
Total Noncurrent Assets | 379,431 | 363,654 |
Current Assets Cash and cash equivalents | 26,395 | 46,455 |
Short-term investments | 1,670 | 1,429 |
Trade and other receivables | 26,138 | 24,898 |
Inventories and supplies | 4,500 | 4,614 |
Current portion of derivative financial assets Current portion of investment in debt securities and other long-term investments | 198 253 | 26 51 |
Current portion of prepayments Current portion of advances and other noncurrent assets | 6,094 8,264 | 5,798 8,170 |
Total Current Assets | 73,512 | 91,441 |
TOTAL ASSETS | 452,943 | 455,095 |
(in million pesos)
As at 30 September 2016 (Unaudited) | As at 31 December 2015 (Audited) |
EQUITY AND LIABILITIES Equity Non-voting serial preferred stock 360 | 360 |
Voting preferred stock 150 | 150 |
Common stock 1,093 | 1,093 |
Treasury stock (6,505) | (6,505) |
Capital in excess of par value 130,504 | 130,517 |
Retained earnings (deficit) (643) | 6,195 |
Other comprehensive loss (20,428) | (18,202) |
Total Equity Attributable to Equity Holders of PLDT 104,531 | 113,608 |
Noncontrolling interests 294 | 290 |
TOTAL EQUITY 104,825 | 113,898 |
Noncurrent Liabilities Interest-bearing financial liabilities - net of current portion 128,121 | 143,982 |
Deferred income tax liabilities - net 3,586 | 3,704 |
Derivative financial liabilities - net of current portion 311 | 736 |
Customers' deposits 2,432 | 2,430 |
Pension and other employee benefits 11,344 | 10,197 |
Deferred credits and other noncurrent liabilities 17,173 | 21,482 |
Total Noncurrent Liabilities 162,967 | 182,531 |
Current Liabilities Accounts payable 48,495 | 52,679 |
Accrued expenses and other current liabilities 99,668 | 84,286 |
Current portion of interest-bearing financial liabilities 32,761 | 16,911 |
Provision for claims and assessments 897 | 897 |
Dividends payable 1,540 | 1,461 |
Current portion of derivative financial liabilities 483 | 306 |
Income tax payable 1,307 | 2,126 |
Total Current Liabilities 185,151 | 158,666 |
TOTAL LIABILITIES 348,118 | 341,197 |
TOTAL EQUITY AND LIABILITIES 452,943 | 455,095 |
First Pacific Company Limited published this content on 14 November 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 November 2016 04:32:05 UTC.
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