Telstra has revealed the addition of almost one million new mobile services in the six months to December 2011, but Sensis revenues plummeted 24 percent in 12 months.
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Stan Beer
Friday, 05 November 2004 16:11
In an eerie replay of the recent Telstra scenario, Telecom NZ (ASX:TEL) posted solid growth in both revenues and earnings for the September quarter only to see its share price drop.
TEL reported first quarter revenue of $1,381 million, up 4.5% on the previous corresponding quarter, and net earnings after tax of $183 million, an increase of 13% on the same quarter in 2003. TEL chief executive Theresa “testosterone” Gattung said TEL’s earnings performance was on track with the company focussed on greater investment in key parts of the businesses to drive future growth.
Like Telstra, TEL faces a decline in its traditional PSTN business, where it has a virtual monopoly, and relies on the new technology businesses of mobile telephony, broadband and wireless broadband for growth. However, like Telstra, the new communications technologies are areas where TEL faces stiff competition.
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