PLDT to announce Q1 results on May 8

April 24, 2007
Updated 09:44:28 (Mla time)

Xinhua Financial News Service

MANILA, Philippines -- Philippine Long Distance Telephone Co. (PLDT) will announce its first-quarter financial and operating results on May 8, the nation's largest telecom company told the stock exchange.

PLDT's mobile phone subscribers topped P25 million in February, as units Smart Communications Inc. and Pilipino Telephone Corp. added 900,000 new subscribers in the first two months of the year.

The company sees its core profit this year at P32 billion to P33 billion, compared to P31.5 billion in 2006.

PLDT has promised to distribute 70 percent of core profit this year to shareholders, up from the 60 percent payout ratio last year.

($1 = P47.67)

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