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

 

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Going Dutch: Fonterra Kicks Off $144M Partnership With Dutch Cheese Maker

Fonterra Co-operative Group, the world’s largest dairy exporter, has commissioned a new dairy ingredients plant in Heerenveen, in the north of the Netherlands, its first wholly-owned and operated ingredients plant in Europe. More>>

ALSO:

Scoop Business: NZ Retail Sales Beat Estimates

New Zealand retail sales rose more than expected in the fourth quarter, led by vehicle-related transactions, food and beverages, adding to evidence that cheap credit and a growing jobs market are encouraging consumers to spend. More>>

ALSO:

Delivery Cuts Go Ahead: 'Government Money Grab' From NZ Post

"It's a money grab by the Government as the shareholder of New Zealand Post" says Postal Workers Union advocate Graeme Clarke about the changes announced by NZ Post. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

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