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- Release Date: 26/02/14 17:17
- Summary: HALFYR: TTK: TeamTalk FY14 Interim Result Media Release
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TTK
26/02/2014 15:17
HALFYR
REL: 1517 HRS TeamTalk Limited
HALFYR: TTK: TeamTalk FY14 Interim Result Media Release
Media release
For immediate release
26th of February 2014
TeamTalk Half Year Result
- TeamTalk Limited half year revenue up 77% to $29.5m
- NSAT up 26.8% to $2.2m
- Interim dividend payment no change 10cps fully imputed
TeamTalk says that this is the first result incorporating the Farmside
acquisition for the full period.
"It has been a busy time for the company" says Managing Director David Ware.
"The Farmside acquisition has transformed TeamTalk from being a small
operation into a medium sized enterprise so we've adapted the business
accordingly.
Although the Farmside acquisition has not met our short term expectations we
remain very confident in its future. We have now replaced the management
team, revamped our products and most importantly improved customer service
and as a result the business is steadily improving. Our Mobile Radio and
Business Broadband operations are firing under their new managers and they
have both launched more new services than ever before. We are seeing modest
revenue upturn and expect an increase in profitability to follow. It's fair
to say we've achieved our immediate objective of building a strong platform
for future growth."
The regulatory fog that pervades the Telecommunications industry is slowly
clearing and the company is seeing some exciting opportunities ahead of it,
particularly in rural broadband. "This an area where the big guys have under
invested and it plays to our strengths building and operating remote wireless
infrastructure and selling into the rural sector" says Ware.
To fund this growth the company has advised that after the current interim
dividend it will reduce future dividend payments to an annual rate of 15c per
share.
-----------ENDS----------
For more information please contact
David Ware, TeamTalk
0800 101-900
End CA:00247523 For:TTK Type:HALFYR Time:2014-02-26 15:17:45
