Globe Telecom Q4 profit rises 8.5% on lower expenses - Mobile World Live

Globe Telecom Q4 profit rises 8.5% on lower expenses

04 FEB 2010

Globe Telecom said today its fourth-quarter net profit rose 8.5 percent from a year earlier as reduced subsidy and operating expenses more than offset the decline in service revenue caused by the company’s decision to retain only better quality subscribers. Dow Jones Newswires notes that net profit for the three months ended 31 December 31 rose to PHP2.72 billion (US$58.6 million) from PHP2.50 billion a year earlier, pushing full-year profit 11 percent higher to PHP12.57 billion from PHP11.28 billion.

 

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