During its virtual annual stockholders’ meeting Friday, P&T said it was allocated 200 megahertz (MHZ) of high band spectrum by the National Telecommunications Commission in line with its goal to get into 5G broadband services in the near future.
PT&T trimmed its net loss by 45% to P19.5 million in the first half as revenues rose 23% to P207.67 million.
The company saw a 22% jump in broadband connections during the period.
“We are now benefiting from having spent the past two years transforming both PT&T’s operations and product offerings to be relevant in the digital age,” said James Velasquez, president and CEO of PT&T.
“This makes us even more resilient during these times as the requirement for high speed internet and digital services becomes a priority,” he added.
PT&T currently has a network reach of 13,500 fiber kilometers in high-growth areas, covering almost 40 percent of the country’s population.
Last year, the company forayed into the IT services space, offering accessible, enterprise grade solutions to complement their connectivity portfolio.