Vodafone New Zealand’s annual report for the year ended 31 March 2006 shows that total revenue increased to NZD 1.3 billion, up 8.5 percent on the previous corresponding period. An outcome that according to Chief Executive Officer, Russell Stanners, was due to the growth of customers and the wider range of services introduced over the past 12 months.
Vodafone’s profit decreased from NZD 182 million in the previous financial year to NZD 152 million, largely due to increased business costs and Vodafone’s commitment to driving down mobile pricing.
Stanners says that with the mobile penetration rate in New Zealand at 95 percent, the key to future growth will be in delivering to customers’ full voice and data needs.
«Over the past year, consumers have benefited from innovative new services and lower prices and this will continue, given a regulatory framework that encourages investment and promotes competition», says Stanners. «Vodafone has invested over NZD 2 billion in New Zealand and we plan to continue investing in new technologies, such as 3G mobile broadband, which will be launched in September», he added.
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