2degrees posts reduced loss of $33.6 mln, will launch UFB bundled offer soon
By Fiona Rotherham
May 26 (BusinessDesk) - Two Degrees Mobile, the country's newest mobile phone operator, is still burning cash but has once again reduced its financial losses, recording a $33.6 million net loss for calendar 2014, down 6.7 percent on the $35.9 million loss the previous year.
Revenue grew 29 percent during the year to just under $400 million, mainly driven by growth in postpay customers and handset sales. Despite a hefty rise in the cost of sales from $72.9 million to $119.5 million, there was a 12 percent reduction in g...
Login to read
Try us for 10 days free
Each day we publish 10 to 20 originally-reported news stories on New Zealand business and the political economy.
You also get:
- Instant alerts based on any keywords you choose.
- A custom library of your saved stories.
- An industry-leading search engine
After your trial subscriptions cost $24 a month or $249 a year.
If you don’t like our news service, we make it easy to quit with our one-button cancel.
Find out more