TELSTRACLEAR PROFIT FALLS SHARPLY
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[August 10, 2006]

TELSTRACLEAR PROFIT FALLS SHARPLY

(New Zealand Press Association Via Thomson Dialog NewsEdge) Wellington, Aug 10 NZPA - TelstraClear said today its raw earnings fell 47 percent in the June year.

Earnings before interest and tax plunged from $19 million to $10m.

Earnings before interest, tax, depreciation, and amortisation fell to $154m from $160m despite a lift in revenue to $727m from $716m.

The company said it invested heavily in systems and processes during the year, with capital expenditure rising to $727m from $716m.

``Our recent announcements around broadband and 'Unplugged', our voice/mobile/broadband initiative, are a clear signal of how active we will be in the coming year,'' the company said in a brief statement.

Last month, TelstraClear announced it was spending $50m developing a high-speed wireless network called Unplugged, starting in Tauranga.

The service using 3G technology would deliver the triple play of telecommunications services --phone calls, broadband and mobile.

TelstraClear plans to build base stations in the Tauranga area and a core network in Auckland, so the service could be managed in conjunction with the company's other networks.

Its parent, Australia's largest telecommunications company, Telstra, today reported a 26 percent fall in June year net profit to $A3.181 billion ($NZ3.9b).

Its earnings before interest and tax (EBIT) declined by 20.7 percent to $A5.497b in the year to June 30, 2006.

Telstra said it had incurred significant costs in executing its strategy and had seen margin pressure continue as its revenue mixed changed.

NZPA WGT sml kn

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