Thursday 26th August 2010 |
Text too small? |
Kordia Group, the state-owned telecommunications and media company, returned to profit this year and is looking for opportunities in the Australian federal National Broadband Network project.
Profit before the one-off hit from tax changes was $2.2 million in the 12 months ended June 30, compared to a $1.1 million loss a year earlier. Kordia made a net loss of $900,000.
Earnings before interest tax depreciation and amortisation climbed 24% to $50.8 million, just ahead of the forecast $49.4 million in the SOE's statement of intent. Revenue climbed 1.8% to $258.3 million.
"The company is well-positioned in Australia for work on the National Broadband Network rollout or any alternative should there be a change of government. Orcon is expected to maintain the current growth rate, and Kordia Networks has a very strong sales pipeline, particularly for newer products," chief executive Geoff Hunt said in a statement.
Kordia's future took a knock earlier this month when it abandoned plans for a rival trans-Tasman cable to Telecom's Southern Cross after Pacific Fibre partnered with Asia's Pacnet.
The company's solutions unit secured a long-term network engineering and maintenance agreement with Nokia Siemens Network to support Vodafone Hutchison Australia's mobile network across Australia, though its local business was weak.
Network revenue dropped 2.1% as Kordia prepares for the close down of analogue television, beginning with Sky Network Television's UHF transmission.
Internet service provider Orcon Internet boosted its revenue 43% as it resumed investment in local loop unbundling equipment at Telecom exchanges and had immediate success with the launch of its mobile phone products.
Businesswire.co.nz
No comments yet
Mercury appoints new Chief Sustainability Officer
April 24th Morning Report
VCT - Operational performance for 9 months ended 31 March 2025
April 23rd Morning Report
TWR - Capital Return - ATO Class Ruling Obtained
THL - FY25 Trading Update
April 17th Morning Report
EBOS announces opening of Retail Offer
MCY - FY2025 EBITDAF guidance revised to $760m
April 16th Morning Report