Telecom Corporation of New Zealand Limited (ASX:TEL) has reaffirmed it is on track to deliver its second-half earnings of about $124 to $147.3 million and its guidance of earnings before interest, tax, depreciation and amortisation of about $434 million.
The telco says, "during the first quarter of calendar 2012, there was an increase in competitive activity in the fixed line and mobile markets.”
Separately, Telecom announced it intends to delist its American Depositary Receipts from the New York Stock Exchange with the last day of trading expected to be July 9.
Telecom posted a net profit of $765.3 million in the first half of its 2012 financial year.
SPK Price at posting:
$1.91 Sentiment: None Disclosure: Held
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