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

 


Vodafone NZ loses mobile customers for 9th straight quarter

Vodafone NZ loses mobile customers for 9th straight quarter

By Paul McBeth

May 22 (BusinessDesk) - Vodafone New Zealand, which bought phone company TelstraClear for $840 million last year, lost a net 7,000 mobile customers in the first three months of the year, its ninth straight quarterly decline.

Auckland-based Vodafone had 2.307 million mobile customers as at March 31 from 2.314 million three months earlier, according to its London Stock Exchange-listed parent company’s annual result. That’s the fewest New Zealand customers Vodafone has had on its books since the third quarter of 2007/08, though it doesn’t include customers acquired from the TelstraClear purchase, who already run on the Vodafone network under a repackaged service.

Vodafone’s percentage of pre-paid customers edged up to 66.7 percent from 66.6 percent at the end of the December quarter.

The parent Vodafone group said its Australian and New Zealand businesses were the only regions not to report revenue growth in the Africa, Middle East and Asia Pacific segment, which accounts for about 30 percent of the company’s service revenue.

The carrier has had to contend with increasing competition since Two Degrees Mobile entered the market in 2009, grabbing a 21 percent share in three years and eating into Vodafone and Telecom’s dominance.

Vodafone New Zealand boosted annual profit 16 percent to $175 million in the 12 months ended March 31 from $151.5 million a year ago, even as revenue fell 4.3 percent to $1.62 billion, according to the last financial statements filed to the Companies Office.

That was better than what Vodafone foreshadowed a year earlier when it said sales would fall $124 million and comprehensive income by $55 million due to the Commerce Commission imposing a reduction in mobile termination rates, the fees carriers charge each other for ending a call on a rival network.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: NZ Govt Operating Deficit Smaller Than Expected

The New Zealand’s government’s operating deficit was smaller than expected in the first five months of the financial year as a clampdown on expenditure managed to offset a shortfall in the tax-take from last month’s forecast. More>>

ALSO:

0.8 Percent Annually:
NZ Inflation Falls Below RBNZ's Target

New Zealand's annual pace of inflation slowed to below the Reserve Bank's target band in the final three months of the year, giving governor Graeme Wheeler more room to keep the benchmark interest rate lower for longer.More>>

ALSO:

NASA, NOAA: Find 2014 Warmest Year In Modern Record

Since 1880, Earth’s average surface temperature has warmed by about 1.4 degrees Fahrenheit (0.8 degrees Celsius), a trend that is largely driven by the increase in carbon dioxide and other human emissions into the planet’s atmosphere. The majority of that warming has occurred in the past three decades. More>>

ALSO:

Scoop Business: New Zealand’s Reserve Bank Named Central Bank Of The Year

The Reserve Bank of New Zealand’s efforts to stifle house price inflation by using new policy tools has seen the institution named Central Bank of the year by Central Banking Publications, a publisher specialising in global central banking practice. More>>

ALSO:

Science Media Centre: Viral Science And Another 'Big Dry'?

"Potentially, if there is no significant rainfall for the next month or so, we could be heading into one of the worst nation-wide droughts we’ve seen for some time," warns NIWA principal climate scientist Dr Andrew Tait. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news