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# 179124 27-Aug-2015 12:55
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http://www.stuff.co.nz/business/industries/71458489/vodafone-nzs-121m-loss-expected-ceo-russell-stanners

O
h dear.

So i'm not revelling in this... I know so many people that work there, but still they are going from bad to worse whatever the spin that's presented.





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  # 1375189 27-Aug-2015 13:35
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" ...  half this year's loss was due to the cost of accounting for its 2012 acquisition of fixed-line phone and broadband provider TelstraClear, and the other half from a drop in revenues. ..."

" ...  Vodafone was currently hiring and had no plans to change its overall headcount during the current financial year."




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  # 1375200 27-Aug-2015 13:51
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The results were expected when you do a big acquisition like buying another Telco aka Telstraclear, Don't read into it too much it's not doom and gloom by any means

 
 
 
 


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  # 1375235 27-Aug-2015 15:00
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Pretty much what John said.

However, I think the VF CEOs days a likely numbered.
Current strategy doesn't look like its working.




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  # 1375259 27-Aug-2015 15:24
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antoniosk: http://www.stuff.co.nz/business/industries/71458489/vodafone-nzs-121m-loss-expected-ceo-russell-stanners

O
h dear.

So i'm not revelling in this... I know so many people that work there, but still they are going from bad to worse whatever the spin that's presented.



It may look a bit grim in print, but to be fair, the people you know that still work here must have a very cynical outlook indeed, if they've not been able to convince you how much better the company is doing on all fronts than it was 6 months ago. =/




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  # 1375261 27-Aug-2015 15:28
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Also VodafoneNZ did the World Exchange aquasition as well

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  # 1375266 27-Aug-2015 15:40
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I don't think it's anywhere near time to panic as the losses are easily covered by assets etc but at some point Vodafone are going to want a return on investment from its NZ subsidiary.




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  # 1375274 27-Aug-2015 16:06
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An acquisition shouldn't show as an expense on your profit or loss - it's a capital expenditure so will show on the balance sheet. Now if the Telstra business is losing 55 million then it is correct and a lot more serious than just accounting




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  # 1375279 27-Aug-2015 16:15
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Zeon: An acquisition shouldn't show as an expense on your profit or loss - it's a capital expenditure so will show on the balance sheet. Now if the Telstra business is losing 55 million then it is correct and a lot more serious than just accounting


it could show as a loss if they had to write down the value of the acquisition if it is now worth less than when they purchased it.

e.g.  they purchased it for ~$800m with the intention of 'realising synergies', but it turned out they bought a lemon and are unable to realise those synergies, so the goodwill component of the purchase is now worth a lot less than they first thought.


http://www.investopedia.com/terms/i/impairedasset.asp

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  # 1375290 27-Aug-2015 16:31
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Zeon: An acquisition shouldn't show as an expense on your profit or loss - it's a capital expenditure so will show on the balance sheet. Now if the Telstra business is losing 55 million then it is correct and a lot more serious than just accounting


There would be the restructuring and integration costs associated with the acquisition that would be showing as a charge




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  # 1376317 30-Aug-2015 09:49
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MikeB4:
Zeon: An acquisition shouldn't show as an expense on your profit or loss - it's a capital expenditure so will show on the balance sheet. Now if the Telstra business is losing 55 million then it is correct and a lot more serious than just accounting


There would be the restructuring and integration costs associated with the acquisition that would be showing as a charge


True, but if the financial statements are studied in detail, you should be able to see the latest profitability or otherwise for "normal" operations, excluding extraordinary items, such as costs associated with a major acquisition. This result can then be compared with the "normal" operations of previous accounting periods.

By the way, I recently upgraded my phone / broadband plan to unlimited data etc and Vodafone generously charged me a termination fee of $199 to come off the previous plan. So if they do this for everybody who upgrades their plans, business should be booming! (After a wait of 30 minutes, a customer care lady in Manila said they would reverse this charge).

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  # 1376337 30-Aug-2015 10:18
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johnr: Also VodafoneNZ did the World Exchange aquasition as well


Wonder when residential customers can look forward to bundled and supported VOIP plans bundled with broadband.

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  # 1376352 30-Aug-2015 10:52
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ajw:
johnr: Also VodafoneNZ did the World Exchange aquasition as well


Wonder when residential customers can look forward to bundled and supported VOIP plans bundled with broadband.


World Exchange is staying as is

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  # 1376362 30-Aug-2015 11:36
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For now?

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  # 1376592 30-Aug-2015 20:29
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I assume that most of the loss is attributed to paper losses rather than physical cash disappearing out of Vodafone's bank account. That being said, given the amount of dicking around Spark has given me regarding fibre install I'm going to investigate moving to Vodafone so they'll gain another customer.




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  # 1376612 30-Aug-2015 21:02
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kawaii: I assume that most of the loss is attributed to paper losses rather than physical cash disappearing out of Vodafone's bank account. That being said, given the amount of dicking around Spark has given me regarding fibre install I'm going to investigate moving to Vodafone so they'll gain another customer.


Isn't your install is a complex one involving a shared driveway? Moving ISP won't speed that up.



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