Digitel reports strong 2007 financials

15 Apr 2008

Digital Telecommunications (Digitel) has reported strong gains in revenues and net income for 2007. Total group sales soared 48% to PHP16.8 billion (USD404 million) largely on the back of gains on derivative instruments and foreign exchange. Wireless revenue grew 40.5% to PHP4 billion on the back of strong subscriber growth, helping push overall service revenues up 8.8% to PHP8.3 billion. Group EBITDA also went up by 8.8% to PHP2 billion, while a net loss in 2006 of PHP962.9 million was reversed to a net profit of PHP1.2 billion in 2007. Digitel stated that it expects further improvement in the future as it expands its wireless network, introduces new products and cuts costs.

Philippines, Digital Telecommunications (Digitel),

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