Converge trims 2026 targets as H1 profit dips to P5.5B

Converge trims 2026 targets as H1 profit dips to P5.5B

MANILA, Philippines — Converge ICT Solutions Inc. saw its bottom line slip by nearly 7 percent to P5.5 billion in the first half, even as revenues inched up, prompting the firm to temper its full-year outlook amid “persistent inflationary pressures.” First-half profit fell 6.78 percent from P5.9 billion a year earlier, although Converge maintained a

Converge cuts 2026 revenue, spending targets as inflation hits profit

Telco-to-tech provider Converge ICT Solutions Inc. is slashing its revenue and spending targets for the year, as profits plunged in the first half on the back of inflationary pressures.Based on a regulatory disclosure, Converge is recalibrating its revenue target this year to a growth range of four to six percent, from an initial estimate of eight to 10 percent.The company is adjusting its expectations downward, in line with the softer growth tr…