TeamTalk lifts 1H profit 18%, forecasts annual gain in face of Spark takeover attempt

Tue, 28 Feb 2017

By Sophie Boot March 1 (BusinessDesk) - Network provider TeamTalk, which is under a $22.7 million hostile takeover offer from Spark NZ, lifted first-half profit 18 percent, forecast annual profit and will consider resuming dividends next year. Net profit rose to $1.3 million in the six months ended Dec. 31, from $1.1 million a year earlier, the Wellington-based company said in a statement. Revenue dipped 0.5 percent to $28.5 million while operating costs dropped 2.4 percent to $17.1 million and finance costs halved to $488,000. The com...

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