TelstraClear profit drops as spending rises

10 Aug 2006

The New Zealand arm of Australian operator Telstra has reported a drop in core earnings in its 2005/06 financial year. TelstraClear saw EBIT fall to NZD10 million, from NZD19 million last year, while revenues rose by 1.5% to NZD727 million. The firm says the fall in earnings was largely due to an increase in capital spending, which reached NZD141 million. TelstraClear recently announced plans to roll out its first 3G mobile services, with an initial NZD50 million deployment covering the city of Tauranga.

New Zealand, TelstraClear