FLLYR: TEL: Telecom Q4 results - One page summary

20 Aug 2010 8:32 am

TEL 20/08/2010 FLLYR

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

FLLYR: TEL: Telecom Q4 results - One page summary

SUMMARY OF PRELIMINARY YEAR ANNOUNCEMENT

Name of Listed Issuer: Telecom Corporation of New Zealand Limited

For year ended: 30 June 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 audited 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 twelve months NZ$'000; Up/Down %; Previous Corresponding twelve months NZ$'000

Total operating revenue and other gains (before adjusting items): 5,271,000; Down 6.3%; 5,626,000

EARNINGS BEFORE ADJUSTING ITEMS AND TAX: 553,000; Down 14.8%; 649,000

Adjusting items for separate disclosure: Income / gains Nil; Down 100%; 12,000 Expenses Nil; Down 100%; (101,000)

EARNINGS BEFORE INCOME TAX: 553,000; Down 1.3%; 560,000

Less income tax expense /(credit): 171,000; Up 6.9%; 160,000

NET EARNINGS FOR THE PERIOD: 382,000; Down 4.5%; 400,000

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

EARNINGS ATTRIBUTABLE TO EQUITY HOLDERS OF THE COMPANY: 380,000; Down 4.5%; 398,000

Earnings per share: 20 cps; 22 cps

Fourth Quarter Dividend: 6.0 cps

Date Payable: 17 September 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:00198578 For:TEL Type:FLLYR Time:2010-08-20:08:32:07

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