Globe Telecom’s 9M09 net profit up 12.3% y-o-y

The Philippines’ second largest telecoms group by revenues, Globe Telecom, reported a 12.3% year-on-year rise in net income for the first nine months of this year to PHP9.85 billion (USD206.4 million), up from PHP8.77 billion previously. The Ayala Corp and SingTel-owned telco said service revenues climbed to PHP46.90 billion from PHP46.62 billion in 9M08, while EBITDA dipped to PHP27.57 billion from PHP28.51 billion in the year earlier period. Core net income was also down slightly at PHP9.41 billion (PHP9.43 billion).