Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Vodafone NZ releases financial results

14 August 2006

Vodafone NZ releases financial results for year ended March 2006

Vodafone New Zealand’s annual report for the year ended 31 March 2006, released today, shows continued solid growth despite the increasingly competitive mobile industry.

Chief Executive Officer Russell Stanners says total revenue increased to $1.3 billion, up 8.5 percent on the previous corresponding period.

“This is due to more customers on our network and a wider range of services introduced over the past 12 months. Last year, for example, we launched our 3G services, which enable customers to use their mobiles to make video calls, watch television on their mobiles and listen to music downloaded to their handset.”

Vodafone’s profit decreased from $182 million in the previous financial year to $152 million, largely due to increased business costs and Vodafone’s commitment to driving down mobile pricing.

Stanners says that with the mobile penetration rate in New Zealand at 95 percent, the key to future growth will be in delivering to customers’ full voice and data needs.

“Over the past year, consumers have benefited from innovative new services and lower prices and this will continue, given a regulatory framework that encourages investment and promotes competition,” says Stanners.

“Vodafone has invested over $2 billion in New Zealand and we plan to continue investing in new technologies, such as 3G mobile broadband, which will be launched in September,” he says.

Vodafone’s annual report is available on the Companies Office website.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land Report: Issues With Soil Degradation

An environmental report released today has found we are damaging and losing our soils and our native plants and animals. More>>


Water Quality Report: Cause For Optimism

National River Water Quality Trends released by Land, Air, Water Aotearoa (LAWA) this week, reveal that for all river water quality parameters monitored over a 10 year period, more sites were improving than deteriorating. More>>


IMF Report On NZ: Positive Economic Outlook

Minister of Finance Grant Robertson has welcomed the IMF’s Concluding Statement, released following its annual visit, which provides an independent assessment of the strength of the New Zealand economy. More>>


Retail Power Price: Review Panel Named

The Energy and Resources Minister Megan Woods has released the details of who will sit on an expert advisory panel which is tasked with leading a review into the price of electricity in New Zealand. More>>


Increasingly Disruptive Threats: Govt Cyber Security Refresh

Broadcasting, Communications and Digital Media Minister Clare Curran today announced a comprehensive refresh of New Zealand’s approach to cyber security. More>>


Regional Growth: Action Plan To Modernise Taranaki’s Economy

The Provincial Growth Fund (PGF) will invest up to $20 million to help future-proof the Taranaki region by diversifying its economy, creating additional jobs and leveraging off the strong base the region has established through its oil, gas and agricultural ... More>>


Winding Down Irrigation: Funding Ends For Crown Irrigation Investment

The Government has begun winding down public funding for large-scale irrigation through Crown Irrigation Investments Limited (CIIL), in line with the Coalition Agreement and the Confidence & Supply Agreement. More>>