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Gen-i growth a highlight of Telecom results

Gen-i growth a highlight of Telecom results

Gen-I, Chorus and AAPT have each delivered EBITDA growth for Telecom’s full year ended June. Overall, Telecom reported a 4.5 percent fall in its bottom line bottom line full year net profit to $380 million, with revenue down 6.5 percent to $5.27 billion. The company highlighted its earnings before interest, taxation, depreciation and amortisation (ebitda) for the year to June which edged down 0.2 percent on the previous financial year to $1.76b. "Telecom has halted the significant earnings decline of the previous two years and achieved notable improvements in the trajectory of each of its businesses," Telecom chief executive Paul Reynolds says. The fall in revenue mainly reflected continued competitive and price pressure in the legacy fixed line businesses, Telecom says. "Chorus, Gen-i and AAPT have each delivered ebitda growth for the year, and the turnaround in the Retail business is on track for FY11," Reynolds says. For the three months to June net earnings fell to $42m from $78m a year earlier. Telecom was plagued by outages to its XT network during the period.


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