Telecom New Zealand’s Q2 earning down by 23.8%

www.WirelessFederation.com/news: Net earnings of NZD80 million (USD55.84 million) down from NZD105 million has been announced by Telecom New Zealand for the three months ended December 31, 2009. 6.5% year-on-year decline in revenues for the second quarter of the 2009/10 financial year has also been reported which is again down from NZD1.4 billion in 2Q08 to NZD1.32 billion a year later.

According to Paul Reynolds, Telecom CEO, telecom’s delivery of the turnaround remains on track, the quarter saw progress on a range of fronts, including the addition of 60,000 customers in mobile, Telecom Retail attracting 64% of broadband connection growth, reduced fixed line churn and the success of our cost out programme.

467,000 connections were established December 31, 2009 out of which 57% of the connections are post-paid, and 47% are new acquisitions. The average data revenues per user increased 19% and roaming revenues increased 111% when compared to Q2 in the previous financial year.