Globe Telecom profit at record high



XFN-Asia
Last updated 02:37am (Mla time) 02/06/2007


MANILA, Philippines -- Globe Telecom Inc. said its net income reached a record high of P11.8 billion in 2006 with a sustained increase in subscribers to its cell phone service.

Globe, which counts conglomerate Ayala Corp. and Singapore Telecom International Pte. Ltd. as its major shareholders, said its board had declared a cash dividend of P33 per common share.

The dividend, amounting to P4.36 billion, is payable on March 15 to shareholders on record on Feb 19. It is in line with the company's policy of paying out 75 percent of net profit.

Globe said its core net income, which excludes the impact of foreign exchange and mark-to-market gains and losses, grew 24 percent to P10.8 billion over the year, while revenue rose four percent to P57 billion.

"The sustained growth in service revenue together with effective cost management measures drove double-digit growth in earnings," Globe said in a statement.

It said it recorded a net addition of 1.2 million mobile phone subscribers in the last quarter to close 2006 with 15.7 million customers.

The results were released shortly after the National Telecommunications Commission (NTC) ordered Globe to suspend its new "unlimited" text messaging service and restore the previous one.

The NTC order came after a consumer group complained that the new offer would make the service more expensive.

Ferdinand de la Cruz, the head of Globe's consumer business group, said the company was preparing its response to the NTC order.

Good for the company!

But kawawa naman kaming mga users at subscribers! Yung mga load namin parating kinakain ! What is the use of free Unlimited TEXT promo if you cannot use it!


Tingnan ninyo iyang picture ng isang sundalo



PHONE BOOTH.’ A Marine makes a mobile call from a makeshift call center -- a spot where telecommunication signal is strong -- in Patikul, in the violence rocked southern Philippine island of Jolo. AFP/THERENCE KOH

I love texting soooo much, kaya parating nae-expire yong loads ko...

Some of their advertisement are totally bogus !

Imagine before , we could have unlimited texting for P50 in 5 days now they almost double it by P80

Bat natatawa ako sa pic na to?

Karma for globe..

i second that. Buti na lang Smart user ako.