Telecom FY earnings to be at bottom end of guidance on fixed-line rivalry, Gen-i squeeze

Wed, 15 May 2013

May 16 (BusinessDesk) – Telecom, which is aiming to cut its workforce by as much as 16 percent this year, said annual earnings will be at the low end of guidance because of competition in fixed-line sales and a margin squeeze at its Gen-i unit. Adjusted earnings before interest, tax, depreciation and amortisation would be between $1.04 billion and $1.06 billion, the company said in a statement, reiterating the forecast range. “Management expect that the result will be near the bottom end of this range, primarily due to a further increase in...

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