2degrees posts reduced loss of $33.6 mln, will launch UFB bundled offer soon

Tue, 26 May 2015

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...

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