Telecom Q3 profit up 14pc

Cable dividend boosts result

Telecom posted a 14% rise in third quarter profit, boosted by a dividend from its Southern Cross cable business and lower cost of sales in its mobile phone business.

Telecom said today net profit for the three months to March rose to $159 million from $140 million in the same period of last year. Earnings before interest, tax, depreciation and amortisation (ebitda) rose 2 percent to $478 million.

Telecom will pay a third quarter dividend of 6 cents per share without imputation credits compared to a fully imputed 7c per share dividend for the same period of last year.

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