Vodafone NZ boosts profit 16 percent as settlements take sting out of regulation

Mon, 01 Oct 2012

By Paul McBeth Oct. 1 (BusinessDesk) - Vodafone New Zealand, the country's biggest mobile phone operator, boosted annual profit 16 percent after reaching settlements with rival Telecom, taking the sting out of its warning that regulation would eat into this year's earnings. Net profit rose to $175 million in the 12 months ended March 31 from $151.5 million a year ago, according to financial statements lodged with the Companies Office. That came as revenue fell 4.3 percent to $1.62 billion. That was better than what Vodafone foreshadowed la...

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