TeamTalk issues business update and guidance for
year ending 30 June 2019
TeamTalk Limited (NZX: TTK), the publicly listed telecommunications services provider today announced an update on its business along with guidance for the financial year ending 30 June 2019.
The company is pleased to advise that the roll-out of its new digital radio network continues according to plan. Following on from the roll-out of the pilot area in Canterbury, TeamTalk has now rolled out the network in Auckland and is currently rolling out in Northland, Waikato and Wellington.
By Christmas 2018, 50% of the network will have been completed including the additional regions of Tauranga, Napier, Otago, Dunedin and South Canterbury with
TeamTalk’s Chief Executive Andrew Miller said: “This is a major infrastructure roll-out for any company and it is pleasing to see that we are on track. It is confirmation that TeamTalk has the skills and capability to carry out the detailed design, planning and delivery of major projects. The new digital radio network will reduce our
Sheik Ali, Managing Director of Pinnacle Freight who
The planning and preparation
TeamTalk’s Chief Executive Andrew Miller said: “Gaining exclusivity to the Powerco ducts provides a huge advantage to CityLink in being able to secure a much cheaper and quicker option of undergrounding our network in the Wellington CBD. The architecture of the new network will ensure a more resilient and higher capacity service than our existing network. This investment secures the future of CityLink.”
Outlook and Guidance
TeamTalk is forecasting Net Surplus after Tax for the year to 30 June 2019 to be broadly in line with last years result of $4.4 million. This is despite an increase in operating costs associated with the investment in capability to complete the company’s transformation and to position the business to grow in future years.