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


Another strong result from TeamTalk

Another strong result from TeamTalk

Listed telecommunications company TeamTalk has reported another solid profit despite the recession affecting the mobile radio part of its business.

Group profit was up 3.4% to $3.8M for the year to June, a result ahead of the company’s guidance.

Managing Director David Ware puts this excellent profit result down to the resilience of the company’s business model and the diversification strategy bearing fruit.

“Three years back we were exclusively a mobile radio company. Had we not diversified we would have been standing alongside many of our mobile radio customers and fielding the full brunt of the economic downturn.

Instead we are well positioned as a niche player in the telecommunications market. Our premier product is broadband access which is at the bricks and mortar end of what is the fastest growing segment of the telecommunications market.

Today our traditional mobile radio services contribute less than 50% of our revenue.”

The Directors declared a final fully imputed dividend of 10 cents per share bringing the full year dividend to a fully imputed 20 cents per share.

TeamTalk’s prospects over the next 12 – 18 months will be heavily influenced by the speed of the economic recovery and the implementation of the Governments telecommunications strategy.

However Mr Ware is quietly optimistic about the future prospects for the company saying, “As a small agile niche player with less than 1% of the telecommunications market we are well positioned to take advantage of opportunities as they arise.”


© Scoop Media

Business Headlines | Sci-Tech Headlines


Federated Farmers: NAIT Levy Increases Must Achieve Accurate, User-friendly System
Nobody welcomes extra costs but if OSPRI is to catch-up on under investment in the NAIT platform and deliver on its workability and farmer support, levy increases are probably necessary, Federated Farmers says... More>>

Westpac: More Job Opportunities, But Growth In Workers’ Earnings Remains Subdued

The Westpac McDermott Miller Employment Confidence Index rose 1.2 points in the December quarter, to a level of 106.9. This was the sixth straight rise in the index since the Covid-19 lockdown in 2020. Michael Gordon, Acting Chief Economist for Westpac, noted that the rise in the index has largely been driven by perceptions... More>>

Statistics: Card Spending Continues To Increase As COVID-19 Restrictions Ease

The busy Christmas period combined with easing COVID-19 restrictions helped to increase card spending in December 2021, Stats NZ said today... More>>

TradeMe: Job Market Ends 2021 On A High With Record Number Of Vacancies
The New Zealand job market finished 2021 on a high note, with the ball still firmly in the job hunters’ court, according to the analysis of 69,600 vacancies listed on Trade Me Jobs for the quarter ending 31 December (Q4)... More>>

Insurance Council of New Zealand: September South Island Windstorm Cost $36.5 M Raises 2021 Extreme Weather Claims Total To $321.6 M

Gale force winds and storms between 9 and 13 September 2021 resulted in insurers supporting communities to the tune of $36.5 m. This is a significant rise, of $16.7 m, on preliminary figures for the event and lifts the end of year total for all extreme weather events in 2021 to $321.6 m... More>>

Statistics: Building Consents Hit New Highs In November
There were a record 48,522 new homes consented in the year ended November 2021, Stats NZ said today. This was up 26 percent compared with the year ended November 2020... More>>