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Telecom Corporation of New Zealand Limited

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NZT.N

ISIN: US8792782083
SEDOL: 2881366

Rating:

SELL

Target Price:

4.92 USD

Investment Horizon:

6 to 12 months
8th May 2009 View Report   Download

3Q 09 News Alert

Telecom Corporation of New Zealand Limited (TCNZ) reported a strong operating performance in 3Q 09. Operating revenues were in line with our estimate while the operating and earnings performances were above our estimates, mainly due to a lower-than-expected labor cost, depreciation expenses and effective tax rate in 3Q 09. Thus, in light of the higher-than-expected operating and bottom-line performance in…

10th Mar 2009 View Report   Download

2Q 09 Update Report

TCNZ is expected to launch a new mobile network (WCDMA) in June 2009, which will provide a wide range of devices and mobile services to its customers, and support an increase in data revenues for the company. In addition, it is currently rolling–out its Fibre-To-The-Node (FTTN) program in its Chorus segment in New Zealand in order to deliver high speed service to its customers....

13th Feb 2009 View Report   Download

2Q 09 News Alert

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Telecom Corporation of New Zealand Limited (TCNZ), reported a y-o-y decline in 2Q 09 results. Operating revenues were below our estimate while adjusted1 EBITDA and adjusted operating margin were above our estimates. However, adjusted net margin was below our estimate, mainly due to a higher-than-expected effective tax rate in 2Q 09. Thus in light of mixed 2Q 09 results, we temporarily maintain our HOLD rating for the common stock…

2nd Dec 2008 View Report   Download

1Q 09 Update Report

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Telecom Corporation of New Zealand Limited (TCNZ) registered 2.3% y-o-y growth in revenues in 1Q 09, above our estimate. The y-o-y growth in revenues was driven by impressive performance from the Chorus, Wholesale & International and Gen-I segments, partially offset by a decline in revenues from the Retail and AAPT segments. Furthermore, EBITDA was above our estimates due to lower than expected other operating expenses…

7th Nov 2008 View Report   Download

1Q 09 News Alert

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Telecom Corporation of New Zealand Limited (TCNZ), reported mixed 1Q 09 results. Operating revenues and adjusted EBITDA were above our estimates while adjusted operating income was in line with our estimate. Adjusted1 net income was below our estimate, mainly due higher than expected taxation expenses in 1Q 09. Going forward, we expect the Wholesale, International and Gen-I segments to drive top-line growth. Thus in light of mixed 1Q 09…