Telecom lost a half of earnings

Telecom quarterly profit fell by 46%

In brief: Telecom loses its footing amid falling profits. the Open Knowledge analysts believe in a recovery in the near future.

New Zealand’s largest phone company, Telecom reported a 46% slump in profits from NZ $ 78 million a year earlier to NZ $ 42 million (for the fourth quarter). It is the worst result ever had been.

Annual net income fell to NZ $ 398 million a year earlier to NZ $ 380 million at an average forecast of analysts at the level of NZ $ 383,2 million negative dynamics attributable to lower revenues from fixed-line services and high level of competition in the market. At the same time, the Open Knowledge analysts believe, that Australian and New Zealand companies are short-term problems.

Anrey Torbinski
2010-08-22 12:19, Economics.

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