Telecom NZ's revenues drop 6.5% in Q1

Friday 6 November 2009 | 04:19 CET | News
Telecom New Zealand saw its net earnings rise almost 10 percent in the first quarter ended 30 September. Net earnings totalled NZD 163 million, up 9 percent from NZD 149 million a year earlier, due in part to a NZD 43 million one-off effect from changes in tax law. EBITDA declined 4.1 percent to NZD 447 million but was in line with guidance. Revenue for the quarter fell 6.5 percent to NZD 1.36 billion, while operating expenses fell faster, to NZD 909 million, a 7.7% decrease on the equivalent quarter last year. During the first quarter, Telecom saw a net increase of 64,000 mobile customers,

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Categories: General
Companies: Telecom New Zealand
Countries: New Zealand
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