Globe Telecom Inc. accelerates its growth momentum in 2013 following a record-breaking performance last year as implementation of the company’s transformation program, which includes a $700 million network modernization, goes full throttle.
“In 2012, Globe set new records, moved closer to superior customer experience, and marched steadfastly towards long-term competitiveness. From this point on, 2013 is the year when our transformation will start to bear fruit. Now imagine what that will be like. I assure you, the best of our company is yet to come,” Globe Telecom President Ernest Cu told shareholders at the company’s annual stockholders meeting.
The company’s service revenues in 2012 reached a new record high of PHP82.7 billion, a 6% rise from a year earlier, “reflecting tremendous growth despite a very challenging competitive environment,” Cu noted.
The company also hiked its dividend payout by 3% and remained committed to its policy of distributing 75% to 90% of the company of the previous year’s core net profit. Core net profit, which excludes the effects of accelerated depreciation, foreign exchange, mark-to-market charges and non-recurring items, posted a healthy growth of 2% to PHP10.3 billion in 2012 from a year earlier.
“These results reflect your company in fighting form as a true market challenger wrestling competition, winning over consumer preference, and championing integrity in business practice,” Cu said.
As part of its network modernization program, Globe Telecom has already completed the first phase of network transformation which involves a complete change-out of equipment even as network optimization process is still ongoing. Additional areas have also been identified for the company’s network transformation in tandem with planned expansion of its fourth-generation coverage footprint.
Globe Telecom also endeavored to integrate 200-plus legacy IT systems so the company can raise the bar on how it deals with its customers. “Our IT transformation is well underway to enable the seamless stitch between service subscriptions and real-time billing, all the way through to comprehensive after-sales service,” he said, emphasizing the new business support system is meant to streamline the work of frontliners.
“Soon a new business intelligence platform shall come on line as well to know customers more intimately and in so doing we shall be able to develop spot-on services for them with more relevance and urgency,” he added.