2degrees lifts profit 33% in 2017 on increased revenue and tax credits

Thu, 31 May 2018

By Sophie Boot May 31 (BusinessDesk) - Telecommunications provider Two Degrees Mobile lifted net profit 33 percent in 2017, with revenue gains outpacing costs and the bottom line boosted by tax credits. Net profit rose to $19 million in the year ended Dec. 31, from $14.3 million in 2016, on a 4.3 percent revenue gain to $732.7 million. Expenses excluding finance costs rose 4.1 percent to $665.4 million, while the company cut finance costs 10.5 percent to $25.8 million in the year. Two Degrees benefited from a $1.5 million income tax c...

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