2degrees' seven year slog delivers maiden $13.4M profit

Pattrick Smellie
Wed, 17 May 2017

By Pattrick Smellie May 17 (BusinessDesk) - Challenger telecommunications provider Two Degrees Mobile has produced its first net profit since launching in the New Zealand market in August 2009, while raising its operating earnings by 43 percent for the second year in a row. Accounts lodged with the Companies Office today show 2degrees posted a pre-tax profit of $9.4 million in the year to Dec. 31, to which it was able to add a tax credit of $4 million to produce net profit of $13.4 million, compared with a loss of $33.1 million in 2015....

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