Telecom Q1 earnings down 3.3pc

Results in line with guidance, says CEO

Telecom has posted first-quarter earnings before interest tax depreciation and amortisation (EBITDA) of $466 million, a 3.3 percent fall.

"Telecom's results for the quarter are in line with guidance," said CEO Paul Reynolds.

When adjusted to exclude Southern Cross dividends, earnings for the quarter were consistent with Telecom's full-year guidance for an ebitda fall of between 5 percent and 8 percent, Reynolds added.

Net profit for the three months to September, however, fell 34 percent from the same period of 2007 to $149 million as Telecom battled increased competition.

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