Telecom posts big profit fall

Telecom's half-year net profit has tumbled 59 percent as the company battles declining prices for calling and Internet services and rising costs to meet new government regulations. Net profit for the six months to December fell to $163 million from $397 million. However, the figure tracked most closely by financial analysts and investors landed comfortably within guidance, with operating earnings of $884 million, a 5.5 percent fall on the year before. Read more on BusinessDay.co.nz

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