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Telecom Q1 Result

Telecom Q1 Result

Telecom New Zealand will issue results for the three months ended 30 September 2002 at 8.30am on Tuesday 12 November.

Based on early published market forecasts, and further informal market feedback, Telecom has become aware of a wide range of estimates for its first quarter result.

Telecom currently expects to report a net earnings result in the range of NZ$145 million to NZ$150 million, subject to finalisation, together with continuing strong operating cash flows. This result would represent an underlying increase of 7.4% - 11.1% over the first quarter result for 2001, adjusted for cross-border lease gains, capacity sales and amortisation of goodwill.

The current range of full year earnings estimates is believed to be NZ$676 million to NZ$760 million. Telecom expects the full year result to be within this range.

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