Business

Liberty Posts PhP897M Loss

Liberty Telecoms Holdings Inc. (PSE: LIB), a provider of high-speed Internet services backed by San Miguel Corp. (PSE: SMC) and Qatar Telecom, closed another year in the red while signaling—for the first time—that mounting losses are casting doubts on its business viability.

Liberty said in its 2014 annual report that net losses for the year amounted to PhP897.14 million against a net loss of PhP1.45 billion in 2013, while revenues from its core 4G broadband service launched five years ago also declined.

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Source: Philippine Daily Inquirer

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