Vodafone NZ FY profit tumbles on TelstraClear costs, change in revenue mix

Vodafone NZ FY profit tumbles on TelstraClear costs, change in revenue mix
Oct. 3 (BusinessDesk) – Vodafone New Zealand posted full-year profit that dropped by more than two thirds as it took on costs related to the acquisition of TelstraClear and increased the proportion of lower-margin fixed-line sales. The country’s biggest mobile phone operator reported a profit of $55.9 million in the 12 months ended March 31, from $175 million a year earlier. Revenue rose by $149 million, or 9.2 percent, to about $1.77 billion but was offset by a $136 million gain in cost of sales and $83.5 million increase in operating expens...