TeamTalk annual earnings slump 53% in 'tough year'

Wed, 26 Aug 2015

By Suze Metherell Aug. 26 (BusinessDesk) - TeamTalk, the listed telecommunications company, reported a 53 percent drop in annual earnings as sales fell across its radio and broadband network operations, in what it said was a "tough year." The Wellington-based company posted a profit of $1.3 million in the year ended June 30, from a loss of $8.3 million a year earlier which included $11.4 million in impairments charges on the goodwill on its Farmside rural unit. Stripping out impairments, pretax earnings sank to $1.8 million from $3.8 mill...

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