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Vodafone NZ sinks into the red as finance, operating costs mount

2014-10-03 04:54:28| Telecom - Topix.net

Vodafone New Zealand, the country's biggest mobile phone operator, reported its first annual loss since 2000 as related party finance costs from its TelstraClear acquisition and rising cost of sales weighed on the bottom line. The Auckland-based company posted a loss of $27.9 million in the 12 months ended March 31, from a profit of $55.9 million a year earlier, according to financial statements lodged with the Companies Office.

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