Vodafone NZ, awaiting merger approval, narrows full-year loss after refinancing

Mon, 05 Sep 2016

By Jonathan Underhill Sept. 6 (BusinessDesk) - Vodafone New Zealand, which has sought regulatory approval to merge with Sky Network Television, reported full-year operating profit that almost tripled as a result of lower depreciation, amortisation, and wage costs, while lower interest costs narrowed its net loss. Operating profit jumped to $50.2 million in the 12 months ended March 31, from $17.2 million a year earlier, the local unit of the UK's Vodafone Group Plc reported. Gross profit fell to $1.04 billion from $1.05 billion but was mo...

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