Kordia turns to a loss on difficult trading in Australia, end of NZ analogue revenue

Wed, 03 Sep 2014

By Tina Morrison Sept. 3 (BusinessDesk) - Kordia Group, the broadcasting and telecommunications platform operator, turned to a loss last year as it faced increased rivalry and disputed contracts in its Australian unit, which accounts for about three quarter of its revenue, and its high-margin New Zealand analogue service was switched off. State-owned Kordia posted a loss of $8.6 million in the 12 months ended June 30, from a profit of $3.7 million in the year earlier period, the Auckland-based company said in a statement. It had forecast...

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