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Kordia Walks The Talk With Solid Year One Results

In the first year of its fresh-faced incarnation as Kordia, the company has today released its results for the last financial year, with group revenue up by 31 per cent over FY06 and net surplus (net profit after interest and tax) up 21 per cent.

Kordia Chairman Wayne Brown says that FY07 was a year of solid achievement in the company's move towards much faster growth in revenues and earnings.

"We have streamlined internal processes to support growth across our broadcast, telecommunications and converged solutions businesses, and are integrating the different parts of the company across Australia and New Zealand into a more unified group," says Brown.

"Kordia in Australia has diversified its customer base, and has developed some pleasing new initiatives in coverage solutions and other areas which are showing promise.

"In New Zealand, we are building on our existing infrastructure to deliver digital television (both satellite and terrestrial), as well as launching services like Metro Wi-Fi, and trials including Digital Audio Broadcasting (DAB) and mobile TV.

"We have expanded the business into Thailand with a Joint Venture, and have contracts in Saudi Arabia, Malaysia, the UK and elsewhere through our specialist consultancy services," he says. "The acquisition of Orcon has expanded Kordia into the retail space in New Zealand and provides much greater certainty for ongoing investment in the core network," says Brown.

Kordia CEO Geoff Hunt says that harmonising the business and simplifying the offering has meant Kordia is better placed for growth and transition into new markets.

"We have spent a year setting the stage for further change, speeding up the business and working more closely with customers to deliver the customised solutions they want in broadcast, telecommunications and convergence.

"Our year-end figures show we are on the right track. We are walking the talk - bringing people and technology together," says Hunt.

ENDS

EXPLANATORY NOTE: The significant increase in the profitable projects delivered by Kordia Solutions in Australia in the year has directly driven the increase in the number of employees earning over $100K (see details on page 34 of the report). The increase covers, primarily, project management and field technicians.

About Kordia

Kordia is an experienced trans-Tasman business, and is fast-becoming one of the region's leading providers of customised broadcast andtelecommunications networks, network services and converged solutions.

Kordia owns one of the largest telecommunications networks in New Zealand and is the major provider of television and radio broadcast facilities. In Australia, Kordia provides design, build and maintenance services to the broadcast and mobile telecommunications sectors as well as engineering services throughout the region.

Kordia's business is built on creating harmonisation - the ability to meld customers' ideas into an operating reality, managing convergence in technology in today's fast moving world.

The name Kordia comes from the Latin 'accordia' meaning harmony - bringing people and technology together as one.

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