TeamTalk Result - Getting the ducks in a row

TeamTalk Result - Getting the ducks in a row

Kiwi-owned & operated telco TeamTalk has reported a significant bottom-line profit turnaround in the past six months in its annual result released to the New Zealand Stock Exchange (NZX) today.

The company, which reported a bottom-line profit of just over $3,000 for the first six months, has today declared a full-year result of $1.3m.

"There's no doubt that the first half of the financial year was disappointing. But after carrying out an internal reorganisation with an improved focus on our customers, using our group-wide scale & expertise, we are seeing some promising early results," says TeamTalk Managing Director David Ware.

"Looking ahead we see a modest improvement in earnings and we also expect debt to reduce over the next year resulting in a much better overall picture going forward. That sort of financial footprint will provide us with opportunities to improve our infrastructure and service in priority areas" Mr Ware says.

"As it was this year, we expect the second half of the coming year to be better than the first."

The TeamTalk group includes the TeamTalk mobile radio company, CityLink’s fibre and business broadband networks and Farmside which is the dominant consumer focused rural retail broadband and internet provider.

"Alongside our 20 years’ worth of infrastructure investment the convergence of mobile radio, wireless, satellite, copper and fibre technologies puts us in a useful position to offer consumers more choice and innovation in the communications marketplace" Mr Ware says.

ENDS

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