TelstraClear reverses loss though sales fall

13 Aug 2008

New Zealand’s largest alternative wireline operator, TelstraClear, has managed to turn a profit in its latest financial year. The firm, which is owned by Australia’s Telstra Corp, reported earnings before interest and tax (EBIT) of NZD7.5 million (USD5.3 million) in the twelve months to the end of June, reversing a NZD28 million loss in 2006/07. Sales fell slightly from NZD693 million to NZD684 million following the company’s decision to shut down its mobile resale business. Revenues from the residential cable networks in Wellington and Christchurch rose 20% year-on-year, TelstraClear says.

New Zealand, TelstraClear