Gross Margins Ahead Of Budget
Auckland, 12 December 2001 – Cabletalk Group Limited (NZSE CTG) today announced its inaugural half-year operating result
achieving EBITDA of $1.125 million for the six months to 30 September 2001 that exceeded internal budget forecasts. The
result is based on revenue of $22.8 million.
After non-recurring integration costs ($412,000) the Company recorded a net profit before tax and amortisation of
Since Cabletalk Group acquired Cabletalk Astute Network Services Ltd (CANS) in August and listed on the main board of
the New Zealand Stock Exchange it has focussed its core business on telecommunications network design, build and
servicing for which demand has remained strong.
Mr Peter Wilson, Managing Director for Cabletalk Group, stated “We are satisfied with the result which incorporates a
lot of one-off costs associated with the capital raising, and implementing new systems that were an inherent part of
Cabletalk Group’s beginnings as a new capital markets company.”
“We are confident that the company now has reached a level of activity which will allow it to achieve its full year
forecast revenue of $46 million,” says Wilson.
In addition Mr Wilson says that Cabletalk Group has recently won a contract for the design, build and installation of
telecommunications networks in the Pacific Island nation of Tuvalu.
“The Tuvalu contract is a significant boost for Cabletalk Group as it is the company’s first offshore project, and was
not included when we made our original forecasts. It will also provide Cabletalk Group with a platform to do other
contract work in the near Pacific region.”