Operating earnings turn positive for 2degrees in third year

Thu, 27 Jun 2013

By Pattrick Smellie June 28 (BusinessDesk) – Mobile operator Two Degrees has turned in its first positive earnings before interest, tax, depreciation and amortisation since it entered the market three years ago in a challenge to Telecom and Vodafone. Ebitda was $4.4 million in calendar 2012, compared to a loss of $38 million on the same basis a year earlier. The company’s net loss fell to $45.2 million from $86.6 million in 2011 as revenue rose about 40 percent to $213.6 million, according to accounts lodged today with the Companies Office....

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