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Rocom postpones growth

By Phil Boeyen, ShareChat Business News Editor

Friday 30th November 2001

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Communications company Rocom Wireless (NZSE: ROC) has pushed back anticipated earnings growth related to the rollout of Telecom's (NZSE: TEL) CDMA network.

In its interim report released in August the NCM company announced that it forecast strong earnings growth in the second six months of the year.

However it has now advised the market that the improvement has been set back to next year.

"The directors of Rocom Wireless advise that unexpected issues related to the rollout of Telecom's CDMA network have continued during this period," the company said in a statement.

"The forecasted strong earnings growth, whilst underway, is now anticipated in the 2002 financial year."

Rocom Wireless floated as a shell company last year and completed its key transaction of Rocom Limited in February.

The company lost $295,000 in the six months to the end of June on sales of $2.584 million.

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