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4-Traders Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  PLDT Inc    TEL   PHY7072Q1032

PLDT INC (TEL)
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PLDT : to spend P46 billion next year

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11/10/2017 | 05:20pm CET

PLDT Inc. said its capital expenditure (capex) will hit at least P46 billion next year as the company works to improve its infrastructure. The amount is higher than the P38 billion in capex for the year.

PLDT Chairman Manuel V. Pangilinan, however, warns that the company's profitability will take until 2019 to recover as it spends over the next two years to boost its network. From this year through 2018, its profitability will be flattish to down, Pangilinan said.

'We're looking at P46 [billion] to P48-billion capex for 2018 or do we push it further than that because we want to have an affirmative response to the criticism being leveled at the industry that the services is lousy,' Pangilinan said in a news briefing on November 9. 'I think we can handle P46 billion out of our cash flow.'

PLDT, meanwhile, is hiking its core profit guidance this year after seeing positive financial results in the first three quarters, while also indicating plans to ramp up spending next year to further beef up its network.

'With two months to go before the end of the year, we have a firmer handle of what the full year results are likely to be. We raise our recurring core income guidance-before 'exceptionals'-to P22 billion, from P21.5 billion,' Pangilinan said.

PLDT's recurring core income, which excludes gains from asset sales, earnings before interest, tax, depreciation and amortization or Ebitda adjustments and related tax adjustments, posted a 5-percent year-on-year increase in the nine months ending September to P17.4 billion.

Consolidated core income for the period rose 7 percent to P23.2 billion. This includes gains from the sale of the company's shares in Beacon Electric (P6.9 billion) and SPi technologies (P1.4 billion).

(c) 2017 Business Mirror Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ( PHP)
Sales 2017 163 B
EBIT 2017 31 094 M
Net income 2017 24 711 M
Debt 2017 133 B
Yield 2017 4,43%
P/E ratio 2017 14,01
P/E ratio 2018 16,26
EV / Sales 2017 2,99x
EV / Sales 2018 2,87x
Capitalization 354 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 1 763  PHP
Spread / Average Target 7,5%
EPS Revisions
Managers
NameTitle
Manuel Velez Pangilinan Chairman, President & Chief Executive Officer
Anabelle Lim-Chua Chief Financial Officer & Senior Vice President
Helen Yuchengco Dee Non-Executive Director
Pedro E. Roxas Independent Director
James L. Go Non-Executive Director
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