Telecom FY profit misses forecast in first result without Chorus, flags weaker 2013 earnings

Thu, 23 Aug 2012

By Paul McBeth Aug. 24 (BusinessDesk) - Telecom Corp, the country's biggest listed company, missed estimates as it posted its first annual result without the telecommunications network operator Chorus, and signalled next year's earnings will be slightly weaker than 2012. Net earnings from continuing operations rose to $281 million in the 12 months ended June 30, compared to $88 million a year earlier, the Auckland-based company said in a statement. Statutory profit surged 604 percent to $1.12 billion, or 60 cents per share, including the five...

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