Vodafone NZ sinks into the red as finance, operating costs mount

Thu, 02 Oct 2014

By Paul McBeth Oct. 2 (BusinessDesk) - Vodafone New Zealand, the country's biggest mobile phone operator, reported its first annual loss since 2000 as related party finance costs from its TelstraClear acquisition and rising cost of sales weighed on the bottom line. The Auckland-based company posted a loss of $27.9 million in the 12 months ended March 31, from a profit of $55.9 million a year earlier, according to financial statements lodged with the Companies Office. The loss is its first in 13 years, and just its third since the local un...

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