je.st
news
Telecom NZ's FY profits tumble 23.5%
2013-08-23 03:58:00| Telecompaper Headlines
(Telecompaper) Telecom New Zealand reported net earnings of NZD 238 million for the financial year ended 30 June, down 23.5 percent from NZD 311 million in the prior financial year. After adjusting for one-off items (including restructuring costs and asset impairments), earnings grew 21.7 percent to NZD 281 million. Telecom said it made some deliberate calls during the year that impacted the result: to grow share in the mobile market, hold share in the broadband market, refocus the Gen-i business services portfolio, and significantly reduce operating costs. Adjusted EBITDA totalled NZD 1.04 billion, a 0.5 percent decrease from FY 2012, while reported EBITDA fell 14.6 percent to NZD 922 million. Adjusted operating revenues and other gains declined 8.1 percent to NZD 4.17 billion, with much of this attributable to a decline in fixed line revenues, and reported operating revenues were down 8.5 percent to NZD 4.19 million. Capital expenditure stood at NZD 465 million, an 18.6 percent increase year-on-year. Major capex items included purchases of 3G mobile spectrum, initial expenses relating to re-engineering of internal IT infrastructure, and early investment in a new optical transport network to upgrade the core network. Telecom ended the period with 649,000 broadband connections, up 4.8 percent, and 1,000 retail and Gen-i access lines, down 4.7 percent year-on-year. The mobile base grew 10.6 percent to 1.82 million.
Tags: telecom
profits
tumble
nzs
Category:Telecommunications
Latest from this category |
All news |
||
|
|||