AAPT forecasts positive cashflow

1 Oct 2007

Telecom NZ’s Australian arm, AAPT, expects to become cash-flow positive for the first time this month, according to its CEO Paul Broad. AAPT recorded a AUD26 million loss in the year to 30 June 2007, a 65% improvement on the previous year. Mr Broad said operating costs had fallen and he was hoping to effect significant cultural change to drive profitability. ‘I think we are reaching that turnaround point now,’ Mr Broad told the Australian Financial Review. Operating expenses rose 3.1% to AUD1.28 billion, while operating revenues grew only 0.3%.

Australia, AAPT