Telecom New Zealand saw its net earnings rise almost 10 percent in its fiscal first quarter ended 30 September, notes Telecompaper. Net earnings totalled NZD163 million (US$118 million), up 9 percent from NZD149 million a year earlier, due in part to a NZD43 million one-off effect from changes in tax law. EBITDA declined 4.1 percent to NZD447 million but was in line with guidance. Revenue for the quarter fell 6.5 percent to NZD1.36 billion.
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