Telecom affirms second-half guidance as cost cutting offsets increased rivalry

Thu, 07 Jun 2012

June 8 (BusinessDesk) – Telecom, the biggest company on the NZX 50 Index, affirmed its second-half guidance, saying cost cutting and lower borrowing costs have helped keep earnings on track even as competitors chased market share. Second-half earnings before interest, tax, depreciation and amortisation would be about $560 million, meeting the guidance it gave with its first-half results in February. Net profit in the second half would be “near the top end” of its $160 million-to-$190 million forecast, it said in a statement. Today’s statement...

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