Two Degrees reports $33.1M full-year loss on 43% revenue growth

Wed, 01 Jun 2016

By Pattrick Smellie June 1 (BusinessDesk) - Two Degrees Mobile, New Zealand's third-largest telecommunications company, reported a net loss of $33.1 million for the year to Dec. 31 on 43 percent revenue growth, cracking half a billion dollars of annual turnover for the first time after purchasing internet service provider Snap last year to expand to a full-service offering. Revenue of $569 million compared to $397.6 million the previous year, but cost of sales rose 68 percent to $323.7 million, while increased equipment and finance costs...

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