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Tel.Pacific forecasts 41% decline in FY10 earnings

Tel.Pacific forecasts 41% decline in FY10 earnings

Telecom calling card product developer Tel.Pacific (ASX:TPC) has forecast a 41% slump in FY10 earnings to $1.7 million.

Revenue is expected to have declined by 15.9% to $53.7 million, due to limited new revenue and a decrease in rates not fully offset by increased volumes.

An investment of $2.5 million in Tel.Pacific's new Hello Mobile pre-paid calling card project further drove down the bottom line.

But the company said it was confident it could restore growth in operating earnings, due to its new line of services and a strategy of expanding in areas that suit the business and culling those which don't.

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Tags growth Guidance telecommunications Tel.Pacific

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