LISTED internet service provider Converge ICT Solutions, Inc. on Wednesday said its fiber network had “more than doubled” last year, after it added over 28,300 kilometers of fiber optic cables.
In a statement, Converge said it expanded its fiber network by 107% from about 26,600 kilometers in 2019.
“We are well on track to meeting our goal of reaching over 15 million or 55% of Philippine households by 2025 and ready to serve the high-speed broadband requirements of the majority of our people,” Converge ICT Chief Executive Officer Dennis Anthony H. Uy said.
“As of December 2020, Converge recorded 6.1 million homes passed, accounting for 25% of total households in the country,” the company noted.
Converge recently reported an attributable net income of P2.19 billion for the first nine months of 2020, up 57.63% from P1.39 billion it earned in the same period in 2019.
Its total revenues for the January to September 2020 period jumped 67% to P10.68 billion from the previous year’s P6.39 billion.
On Monday, the company announced that it would purchase a total of 25,000 doses of vaccines once they are made available “to ensure that employees of Converge will have protection” against the COVID-19 (coronavirus disease 2019). — Arjay L. Balinbin