I guess the best you can say for the result is that it was in line with expectations. However, there are still serious questions about the viability of the business, there doesn't seem to be any bottom in sight for call volumes. Since the company refuses to say that call volumes have bottomed I think it's prudent to assume that they haven't.
The only reason Ireland will make any money by the end of the FY is because they will reduce costs, not a significant increase in call volumes.
I notice France has now dropped off the international expansion plans and still not much information on this new mobile terminating service. Needless to say New Zealand is not a big market. Lower margin means how much lower?
Are we just witnessing the slow death of an obsolete product?
REF Price at posting:
30.0¢ Sentiment: None Disclosure: Held
