Telecom New Zealand has announced adjusted operating revenues of NZD1.847 billion (USD1.528 billion) for the six months ended 31 December 2013, down from NZD1.905 billion in the corresponding period one year earlier. Adjusted EBITDA for the six-month period under review dropped from NZD516 million to NZD507 million, while Telecom reported net earnings of NZD167 million, a slight improvement on the NZD163 million in the six month period ended December 2012. In operational terms, Telecom ended 2013 with 1.923 million mobile customers, up 200,000 from 1.723 million in December 2012. Of this figure 967,000 were pre-paid subscriber accounts. Fixed broadband users increased from 612,000 to 640,000 year-on-year, while wireline numbers slumped from 949,000 to 913,000 on an annual basis.
In other news, Telecom used its results announcement as a platform to unveil its new brand name, Spark. Telecom chief executive Simon Moutter said that Spark better reflects the company’s new direction and the aspirations it has for its place in the life of New Zealanders. He commented: ‘As a company we’ve moved far beyond the home telephone. Spark better represents what we are today – it is all about digital services, fibre, mobile, data, cloud, entertainment, apps, or whatever new technology is around the corner. Spark is a word that has life and energy, and links to the creativity of New Zealanders, the modern tech economy and our desire to enable our customers to thrive. It will carry with it our widely recognised logo, which is generally referred to as the ‘spark’.’ Until the name change takes place later this year, the company will continue to trade as Telecom and Gen-i.