Globe Telecom Q4 profit rises 8.5%

www.WirelessFederation.com/news: The fourth-quarter net profit of Globe telecom increased 8.5% from a year earlier. The net profit for the three months ended December 31 rose to PHP2.72 billion ($58.6 million) from PHP2.50 billion a year earlier, pushing full-year profit 11% higher to PHP12.57 billion from PHP11.28 billion.

The net profit of the Philippines’ second-largest telecommunications group by sales got a major boost from its broadband and fixed-line data businesses and had made company to allocate more than half of this year’s $500 million capital expenditure to these fast-growing services.

According to Ernest Cu, president and chief executive of Globe, as the company set forth to its path to acquiring quality subscribers and focusing on delivery of premium customer experience in 2009, it is now in a better position to push further the gains in its broadband and corporate fixed-line data businesses while driving growth in its mobile business