MANILA, March 27 (PNA) — Globe Telecom was cited as one of the best managed public companies in the Philippines and in the region, according to a survey by FinanceAsia Magazine among investors and analysts which ranked companies, senior executives, as well as policies on dividend payments and other matters.
In FinanceAsia’s recently published report of their 15th edition of Asia’s Best Companies, Globe emerged as one of the best-managed companies in the country, co-ranked as fourth along with SM Investments Corporation (SMIC), besting industry rival PLDT which came in at ninth. Globe also made it at seventh for best corporate governance, together with SMIC and BDO Unibank.
Globe also ranked prominently at second as the “most committed to paying good dividends,” and fourth in investor relations. The telco’s President & CEO Ernest Cu was also adjudged as one of the best CEOs.
Globe Chief Financial Officer Albert de Larrazabal said that, “we are very honored to have been recognized by investors and analysts in the region as one of the best organizations in Asia. With sustained momentum in growth for almost all performance metrics, marked by record-breaking results in 2014, Globe has become an exemplar company in terms of setting the pace in its industry, founded on very sound leadership and strong financials.”
According to FinanceAsia, the responses were culled from over 250 portfolio managers and buy-side analysts from around the world on their opinions on Asian-listed companies.
Globe figured prominently on the survey on the strength of an excellent financial performance last year, which saw record highs in terms of consolidated service revenues of Php99 billion, a 9 percent growth year-on-year; total consolidated EBITDA of P39 billion, 8 percent higher than 2014; and core net income at Php14 billion, up 25 percent from last year. (PNA)