MANILA, Philippines, 4th August 2009 –– Philippine Long Distance Telephone Company
(“PLDT”) (PSE: TEL) (NYSE: PHI) today announced its financial results for the first six months of 2009 with Core Net Income, net of exceptional items, rising 11% to P20.8 billion, from P18.7 billion for the same period in 2008. Consolidated Reported Net Profit of P19.7 billion also increased by 2% from the P19.3 billion in the same period last year. This half’s results reflected the higher recurring net income, the impact of net losses from the foreign exchange revaluation of our financial assets and liabilities and derivatives (compared to a net gain in the first half last year), and the lower statutory tax rate. Consolidated service revenues increased by 4% to P72.9 billion, fueled mainly by the 6% growth in data and broadband revenues. Consolidated EBITDA was stable at P44.1 billion while EBITDA margin was 60%. Read more