Categories: BusinessConverge

Converge ICT maintains strong growth for the first half of 2021

Fiber internet provider Converge ICT said that its revenues for the first half of 2021 tallied at P11.78 billion, an 82 percent increase from its 2020 numbers.

The firm added that its net income from the first six months of the year almost reach its full-year profits in 2020.

Converge said that its residential business also sustained growth, raking in P10.21 billion, double than the figures from the same period last year.

It furthered that its new residential subscribers reached a record high of 173,356 for the second quarter of the year, adding up to a total of 1.36 million.

Converge’s Chief Financial Office Advisor Matthias Vukovich said that the company is “not seeing any slowdown” when it comes to its growth.

He mentioned that Converge has been implementing an aggressive expansion in key areas of the Philippines.

“We’re confident that we can further grow the margin, the income. But at this point, we’re not giving out any specific guidance on the margin targets,” Vukovich said.

Dennis Uy, Converge’s Chief Executive Officer said that the company is looking into offering more add-on services, similar to Vision, its entertainment add-on service launched just recently.

“We will come up with more value-added services in the future. We already have a digital highway to individual homes. The more you can connect with the consumer, the more products you can add on. That’s why we are a technology and innovation company,” Uy said.

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Myra Santos Santos

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