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Telecom Corporation of New Zealand

IRG

Friday 8th March 2013

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Telecom Corporation New Zealand Limited (Telecom) is a supplier of telecommunications and information, communications and technology (ICT) services in New Zealand and Australia.

Telecom provides telecommunications and ICT products and services, including local, national, international and telephone services; mobile services, data, broadband and Internet services; information technology (IT) consulting, implementation and procurement, equipment sales, and installation services.

Key Statistics
Issue:                  1.81 bn
Market Cap:    4.26 bn
PE Ratio:             13.95
EPS:                    16.59
Div:                20 cents
Div Yield:            8.64%
NTA:                   26.69

The Company’s portfolio of IT services includes cloud computing services, managed IT services, IT outsourcing, IT software and hardware procurement, and professional services to assist organizations with business and technology investments.

Total earnings before interest, tax, depreciation and amortization (EBITDA) of the group for the six month period ending 31 December 2012 were $516 million compared with $1,656 million for the prior comparative period.

Comparisons with previous periods are complicated by the demerger of Chorus which took effect from December 2011. The Directors have declared an interim dividend of 8 cents per share (9 cents in the corresponding half year), carrying 75% imputation credits.

The Dividend Reinvestment Plan has been retained and shares will be issued at the prevailing market price applied to ordinary shares. Telecom also reported a growth of 158,000 customers in WCDMA mobile connections and 13,000 growths in retail broadband connections in this period.

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