Manila: The Uy-led publicly listed broadband provider Converge ICT Solutions, Inc. has revised its 2025 revenue target from a growth of 14-16 percent to a more conservative 10-12 percent, following the challenges encountered in the first half of the year.

According to Philippines News Agency, Converge Chief Finance Officer Robert Yu explained in an online briefing that despite robust demand, several factors necessitated the adjustment. Yu highlighted ongoing difficulties in reducing churn levels due to a manpower shortage, with fiber talent being in demand both locally and internationally. The company is actively working to increase its workforce to address fiber cuts and customer service needs by enhancing its recruitment packages.

Yu also attributed the target revision to delays in the improvement of the enterprise business. He mentioned that new teams have been onboarded to accelerate progress, although the financial benefits from these operational changes will take time to materialize.

Converge is planning to expand its infrastructure with the opening of a data center in Angeles City, Pampanga by December, another data center in Caloocan City by October, and a cable landing station in Davao by September.

For the first half of this year, Converge reported an 11 percent increase in consolidated revenue, reaching PHP21.8 billion, up from PHP19.5 billion in the same period the previous year. The residential business contributed PHP18.4 billion, marking a 10 percent increase, while the enterprise segment grew by 18.3 percent to PHP3.4 billion. As of the end of June, Converge had approximately 2.8 million post-paid and pre-paid subscribers.