Cabletalk turns around last year's first half loss

Telecommunications contracting company Cabletalk turned around last year's first-half loss to post a net profit of $710,000 for the six months ended September.

That compared with last year's $736,000 loss for the same period last year, on a 15.3 per cent increase in revenue to $24 million and a 7.1 per cent rise in operating expenditure.

"The operating performance has benefited from an improvement in revenue across the group, control of costs and improved economies of scale," Cabletalk said in a statement today.

"The first half-year result provides a solid base for the full 2003/4 financial year result."

Cabletalk shares last traded at 35c, compared with a year high of 43c and a low of 12c.

- NZPA