QUARTER: TEL: Telecom Q3 results - one page summary

7 May 2010 8:31 am

TEL 07/05/2010 QUARTER

REL: 0831 HRS Telecom Corporation of New Zealand Limited (NS)

QUARTER: TEL: Telecom Q3 results - one page summary

SUMMARY OF PRELIMINARY THREE MONTHS ANNOUNCEMENT

Name of Listed Issuer: Telecom Corporation of New Zealand Limited

For nine months ended: 31 March 2010

This report has been prepared in a manner which complies with generally accepted accounting practice and gives a true and fair view of the matters to which the report relates and is based on unaudited accounts.

The financial information presented has been extracted from Telecom's Consolidated financial statements, which comply with New Zealand equivalents to International Financial Reporting Standards, as appropriate for profit-oriented entities. The comparative information has been restated for the retrospective application of Part 1 of NZ IFRS 9 'Financial Instruments'.

CONSOLIDATED INCOME STATEMENT

Current nine months NZ$'000; Up/Down %; Previous Corresponding nine months NZ$'000

Total operating revenue and other gains (before adjusting items): 3,936,000; Down 7.7%; 4,265,000

EARNINGS BEFORE ADJUSTING ITEMS AND TAX: 427,000; Down 23.3%; 557,000

Adjusting items for separate disclosure: Income / gains Nil; NM; Nil Expenses Nil; Down 100%; 101,000

EARNINGS BEFORE INCOME TAX: 427,000; Down 6.4%; 456,000

Less income tax expense /(credit): 87,000; Down 35.1%; 134,000

NET EARNINGS FOR THE PERIOD: 340,000; Up 5.6%; 322,000

Less minority interests: 2,000; Nil; 2,000

EARNINGS ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY: 338,000; Up 5.6%; 320,000

Earnings per share: 18 cps; 17 cps

Third Quarter Dividend: 6.0 cps

Date Payable: 4 June 2010

Imputation tax credit on latest dividend: Nil

Short details of any bonus or rights issue or other item(s) of importance not previously released to the market:

Nil End CA:00194635 For:TEL Type:QUARTER Time:2010-05-07:08:31:32

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