Home > Industry > Vocus Takes A $1.5 Billion Hit

Vocus Takes A $1.5 Billion Hit

No. 4 – or is it No. 5? – telco and fibre networking outfit Vocus has warned that its profit would fall short of guidance and it planned to take a $1.53 billion impairment hit across it’s a/NZ operations.

This is unlikely to result in a better price for the company which has been opening its books to two would-be private equity takeover merchants.

Vocus said it now expects an underlying profit of A$152.3 million for the financial year through June, up 50 percent on the previous year, but below the $165 million it had previously forecast.

It added that net debt at the end of June stood at an expected $1.03 billion.

You may also like
Telstra & Vocus Fail To Offer Retailers Cheap New NBN Plans
Tech Stocks Hit Again On ASX
ACCC Claims ISP Collaboration Will Boost Competition
Telstra Lands Coral Sea Cable Deal
Vocus Profit Drops 17 Percent