Kordia returns to profit, beats guidance in shift away from broadcast

Wed, 29 Aug 2012

Aug. 29 (BusinessDesk) - Kordia Group, the state-owned communications company, returned to profit as a shift away from relying on broadcast transmission fees underpinned sales growth, and beat its own guidance in the 2012 Statement of Corporate Intent. Net profit was $12.1 million in the 12 months ended June 30, turning around a loss of $12.1 million a year earlier, the Auckland-based state-owned enterprise said in a statement. Revenue climbed 35 percent to $399 million and earnings before interest, tax, depreciation and amortisation advance...

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