Philippines-based Globe Telecom reported a double-digit profit gain and continued data growth in H1 2021, driven by increases in prepaid subscribers and ARPU.
Net profit grew 13 per cent year-on-year to PHP13.1 billion ($259.5 million), as declines in non-operating charges and taxes more than covered higher depreciation expenses.
Consolidated service revenue increased 4 per cent to PHP75.5 billion.
President and CEO Ernest Cu stated: “We are pleased to report strong financial and operating results, with healthy balance sheet and cash flows despite the re-imposition of stricter lockdowns during the second quarter.”
Mobile service revenue was flat at PHP26.3 billion. Declines in traditional voice (down 11 per cent to PHP9.1 billion) and SMS (17 per cent lower at PHP4.8 billion), were offset by a 7 per cent increase in mobile data to PHP38.6 billion, which accounted for 73 per cent of the total compared with 69 per cent in H1 2020.
The operator’s overall subscriber base grew 2 per cent to 81.7 million, with a 6 per cent drop in post-paid subscribers to 2.67 million offset by a 2 per cent gain in prepaid (79.2 million).
Prepaid ARPU rose 13 per cent to PHP103 post-paid 1 per cent to PHP852.
Capex more than doubled to PHP43.3 billion. It added 641 cell sites and upgraded 8,175 LTE and 5G sites.
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