TeamTalk back in the red on asset writedowns, faster depreciation

Wed, 24 Aug 2016

By Paul McBeth Aug. 24 (BusinessDesk) - TeamTalk sank back into the red in the 2016 financial year as it wrote down the value of fixed assets and accelerated depreciation on some items as the telecommunications network company tries to get itself on a stronger footing in a tough trading environment. The Wellington-based company reported a loss of $1.3 million, or 4.6 cents per share, in the 12 months ended June 30, compared to a profit of $1.3 million, or 4.7 cents a year earlier when it returned to profitability. Earnings before interes...

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