Telecom profit falls 15.5%

Telecom has posted annual profit of $713 million, in line with the company's guidance, but down 15.5 per cent from last year.

Telecom had forecast annual net profit of between $700 million and $730 million. Last year the company posted annual profit of $3 billion, although this included $2.08 billion booked from the sale of directories business Yellow Pages.

Given this, profit from continuing operations was down 15.5 per cent from $844 million.

Telecom also said this morning annual revenue rose 2 per cent to $5.6 billion.

Read more at BusinessDay.co.nz

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags telecom

Show Comments
[]