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Telecom NZ cuts earnings guidance for FY11-13

Telecom NZ cuts earnings guidance for FY11-13

Telecom NZ (ASX:TEL) has significantly lowered its earning guidance for the next three years.

While the company’s guidance for this year was unchanged, the company shaved its FY11 ebitda forecast to between $1.72 billion and $1.78 billion, compared to its previous prediction of between $1.82 and $1.85 billion.

The company is now expecting an ebitda increase of between $20 million and $80 million for the subsequent to years, compared to the between $70 million and $115 million first forecast.

The guidance change is due to adverse regulatory changes, as well as a softening revenue outlook due to price pressures and lower revenue growth.

TEL shares have today fallen 2.34% to $1.670.

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Tags regulationTelecommunicationsTelecom NZforecast

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