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

 

Teamtalk Exceeds Forecast With Solid Result

Teamtalk Exceeds Forecast With Solid Result

Listed mobile radio firm TeamTalk Ltd announced a $3.11 million full year net profit today, up 2.8% on last years $3.01 million result. The result also exceeds the company’s earlier guidance of $3.0 million.

TeamTalk will pay a final dividend of 10c per share, taking the fully imputed dividend to a healthy 19c per share, up 1c on last year. The company expects to increase its dividend to 20cps fully imputed for the 2007 year.

Managing Director David Ware said the company continues to generate strong cash flows. This strong cash flow enabled the company to reduce net debt by $1.7 million to $4.9 million, while paying dividends of $3.6 million.

Looking to the future the company is taking a cautious approach. Mr Ware anticipates that 2007 will be a more difficult year as the overall economy tightens and uncertainty remains around the Telecommunications regulatory environment.

“So while our NSAT is likely to be below the 2006 result, the forecast 20cps dividend represents less than 60% of free cash-flow,” Mr Ware said.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>

Elsewhere:

Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:

Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>