Telecom New Zealand (ASX:TEL) is forecasting a decline in both revenue and profit for FY10.
The company is projecting a 6% decline in revenue, and a 1% decline in ebitda for financial year.
And the losses are projected to continue into FY11, albeit at a lower pace – the company expects a 1% to 2% decline in revenue and between a 2% reduction and a 2% growth in ebitda.
But operational expenditure is expected to fall 8%, and capex 10%, in FY10, and free cash flow should improve by 25% for the financial year.
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