Menu
Telecom profit drops

Telecom profit drops

Telecom has reported a 37 per cent drop in first-quarter net profit to $103 million. Revenues were down 2.9 per cent to $1.32 billion. Earnings, before, interest, tax, depreciation and amortisation were slightly ahead of analysts' expectations at $443 million. "Operational performance was satisfactory with good cost control offsetting significantly higher regulatory costs and intensifying competition," chief executive Paul Reynolds says. "Telecom absorbed $16m of new regulatory costs, and the impact of the Canterbury earthquake of around $3m, to achieve EBITDA that was on target and within market expectations. "On ultrafast broadband, Telecom is continuing to engage in detailed discussions with both Crown Fibre Holdings and the Ministry of Economic Development, and we await further announcements."


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags telecom

Featured

Slideshows

Ingram Micro launches Showcase 2018 in Christchurch

Ingram Micro launches Showcase 2018 in Christchurch

Ingram Micro kickstarted Showcase 2018 in Christchurch, hosting more than 40 vendors at Horncastle Arena. Under the banner of Leading the Way, the event demonstrated what’s new, what’s next and how it can be used to improve business and everyday life.

Ingram Micro launches Showcase 2018 in Christchurch
Data breach notification laws in NZ: How can partners prepare?

Data breach notification laws in NZ: How can partners prepare?

This exclusive Reseller News Roundtable outlined the responsibilities facing security partners today, assessing risk while evaluating the role of the vendor in providing added layers of protection.

Data breach notification laws in NZ: How can partners prepare?
Show Comments