2degrees CEO Stewart Sherriff. Photo / Michael Craig.
2degrees CEO Stewart Sherriff. Photo / Michael Craig.
10-year-old 2degrees, which first made it into the black in 2016, is continuing on its modest growth trajectory.
The telco made a net profit of $19.6m for the 12 months to December 31, 2018, according to a Companies Office filing posted today - a 2.6 per cent increase on the$19.0m net profit it booked for 2018.
Revenue rose 10 per cent to $805m from the year-ago $733m.
Ebitda was not included as a line item, but 2degrees says operating earnings increased to $131m from the year-ago $119m.
2degrees says a highlight was a 9 per cent increase in customers on contract, but its prepay subscribers sank 6 per cent - in part because of the closure of its 2G network.
Although now profitable and growing, a decade after its launch 2degrees still trails the Big Two by some margin.
Spark made Ebitda (ebitda plus investment income) of $489m on revenue of $1.75b in its half year to December.
Vodafone NZ had revenue of $1.99b in the year to March 31 and adjusted ebitda of $463m, according to un-audited accounts released around the Infratil-Brookfield deal
