TeamTalk, unshackled from Farmside, lifts first-half profit 59%

Wed, 21 Feb 2018

By Paul McBeth Feb. 22 (BusinessDesk) - TeamTalk lifted first-half profit 59 percent as the telecommunications group benefited from selling a controlling stake in the unprofitable rural broadband services provider Farmside. Net profit rose to $2.1 million, or 7.6 cents per share, in the six months ended Dec. 31, from $1.3 million, or 4.8 cents, a year earlier, the Wellington-based company said in a statement. Revenue slipped 1.3 percent to $17.4 million on the slimmed down business, but the bottom line wasn't encumbered by a $1.4 million...

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