The Philippines’ second largest telecom firm, Globe Telecom, has recorded a 37 per cent rise in its January-June 2006 net profits due to an increase in its mobile subscriber base and a decrease in the company’s costs. The firm reported a net income of 5.8 billion pesos in the period under review, up from 4.21 billion pesos in the corresponding period last year. Globe’s earnings before interest, taxes, depreciation and amortisation for the same period increased by 23 per cent to 18.9 billion pesos.
