Kordia sees profits tumble

6 Oct 2008

The state-owned fixed line operator Kordia has reported a net profit of NZD838,000 (USD560,000) for the financial year to end-June 2008, down from a profit of NZD13.8 million the year before. Revenues fell 9% to NZD239 million, The Dominion Post reports. Chief executive Geoff Hunt says he is disappointed with the result, although he claims year-on-year comparisons are unfair because 2006/07 was an exceptional twelve months for the company, with a major mobile network contract win in Australia.

New Zealand, Kordia