Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
2degrees growth story continues
Posted on 17-May-2017 15:25 | Tags Filed under: News



2degrees delivered a maiden profit in the year ending December 31, 2016, repeating year-on-year double digit increases in revenue, while doubling the size of its broadband subscriber base.

 

The full service national telecommunications provider lodged its financial statements for 2016 with the Companies Office today. They show how the company’s continued investment in its mobile network has begun to bear fruit, delivering revenue of $702.7m and a $13.4m profit.

 

2degrees Chief Executive Stewart Sherriff said the result was an important milestone for the seven year old challenger, which grew its postpaid mobile customer base by 19% through innovation and value leadership.

 

“Last year was a turning point for 2degrees. Total revenue grew as average customer revenues increased, while network costs reduced as we completed a mobile network extension programme. Our mobile customers enjoy 97.5% coverage,” says Mr. Sherriff.

 

“It was also the first full year of 2degrees broadband, with customer numbers growing more than 100% as our full service bundle gained traction in the consumer market and our Telecommunications as a Service (TaaS) offering attracted large government organisations such as Ministry for Primary Industries.”

 

Mr Sherriff says the most satisfying result was a maiden profit of $13.4m, reversing the previous year’s $33.1m loss.

 

“For the team, 2016 provided a real sense of achievement. The business is maturing, while remaining true to its identity as the leader in market innovation. What started as a prepay mobile price play has become so much more, with national mobile and broadband networks serving all market segments.”

 

Mr Sherriff says previous years’ investments in network and technology have enabled the recent launch of New Zealand’s first unlimited mobile data plan, along with the introduction of ‘Data Clock’, offering  time-based data for prepay customers – also new to Kiwis.

 

Having brought competition to households and businesses in metropolitan and provincial centres, 2degrees is also looking at opportunities in rural New Zealand. The company is part of the Rural Connectivity Group to deliver the government’s RBI2 network, which would see it invest in shared infrastructure with competitors while continuing to compete vigorously at the retail level.

 







comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

Best place & price to get higher end car tyres? (Michelin/GoodYear etc)
Created by Item, last reply by Batman on 17-Jan-2018 22:47 (35 replies)
Pages... 2 3


Getting asked for Money/Food
Created by Starscream122, last reply by MikeAqua on 17-Jan-2018 12:37 (80 replies)
Pages... 4 5 6


USA Rental Car Insurance
Created by kryptonjohn, last reply by hbngan on 17-Jan-2018 22:29 (20 replies)
Pages... 2


Any woodworkers on the forums. I'm having a coronary at the price of tools here
Created by gedc, last reply by kiwigander on 17-Jan-2018 23:43 (19 replies)
Pages... 2


US Appliances in NZ
Created by Joshysss, last reply by Scott3 on 17-Jan-2018 16:41 (19 replies)
Pages... 2


Debt Consolidation
Created by networkn, last reply by jnimmo on 16-Jan-2018 21:32 (98 replies)
Pages... 5 6 7


Have any Geekzone members had an Ancestry DNA test?
Created by Linux, last reply by MurrayM on 17-Jan-2018 13:53 (50 replies)
Pages... 2 3 4


My fibre journey
Created by dclegg, last reply by Chorusnz on 16-Jan-2018 15:00 (28 replies)
Pages... 2