Globe Telecom nets P9B in H1, up 3%

AYALA-LED Globe Telecom Inc. closed the first six months of the year with net income of P9 billion, up 3 percent from last year’s P8.7 billion despite the higher depreciation expense and non-operating charges during the period.

Excluding non-recurring expenses and net foreign exchange gains, core net income reached P8.8 billion for the first six months, up 2 percent from the P8.6 billion recorded in the same period last year, Globe said in a disclosure to the Philippine Stock Exchange.