Globe non-telco revenues up 3x
Globe Telecom’s non-telco revenues rose almost three times in the first quarter this year versus same period last year, driven by growth across most of the company’s subsidiaries and affiliates.
Globe said its revenues from non-telco services growing a robust 252 percent year on year to P791 million for the first three months of 2022.
This marks the first quarter that non-telco services have significantly contributed to Globe’s topline. The positive results were driven by growth across most of the company’s subsidiaries and affiliates.
Globe’s non-telco subsidiaries include popular e-wallet service GCash, telehealth platforms KonsultaMD and HealthNow, Adspark, Yondu, ECPay, and Asticom saw improvements in the performance during the first quarter.
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Cosco nets P2.7 billion
Cosco Capital Inc. grew its bottomline for the first quarter of the year to P2.7 billion, up 10.9 percent from P2.44 billion last year
Revenues hit P40.68 billion, up 2.8 percent from P39.57 billion.
The group’s grocery retailing businesses, Puregold Price Club, Inc. and S&R Membership Shopping Club, contributed 68 percent of total profit, followed by the liquor distribution with 17 percent. The commercial real estate business contributed 14 percent of the total profit while its specialty retailing segment, Office Warehouse Inc., accounted for the rest.
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AllDay core rises 33%
AllDay Marts Inc. said core profit in the first quarter reached P95 million, up 33 percent from P71 million last year.
Revenues hit P2.29 billion, up 7.4 percent from P2.14 last year.
The company said AllDay’s expansion will prioritize the National Capital Region and Tier 1 cities as part of its goal to reach 100 stores by 2026.
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STI swings to profit
STI Education Systems Holdings Inc. netted P297.2 million in nine months of its fiscal year ending March, a turnaround from a P31.4 million loss last year.
Revenues were at P1.92 billion, up 26 percent from P1.52 billion last year.
The group’s improved performance comes on the back of an 18 percent increase in its overall enrollment to 82,629 students for school year (SY) 2021-2022 from 70,223 in SY 2020-2021.
Enrollment in programs regulated by the Commission on Higher Education increased to 68 percent in SY 2021-2022 from 57 percent the previous SY STI Holdings’ FY starts on July 1.
