Telecom full year earnings up 1.6 per cent

New Zealand's Telecom is reporting adjusted full year earnings up 1.6 per cent to $NZ388 million ($A309.61 million), as it works toward splitting off its Chorus unit after the company was chosen to partner the Crown in its ultrafast broadband program for most of the country.

In the year to June 30, full year adjusted revenue was down 3.2 per cent from a year earlier at $NZ5.1 billion ($A4.07 billion), while adjusted expenses fell 5.8 per cent to $NZ3.3 billion ($A2.63 billion).

Telecom highlighted a 2.1 per cent rise in adjusted earnings before interest, taxation, depreciation and amortisation to $NZ1.8 billion ($A1.44 billion), which was above guidance.

A fully imputed fourth quarter dividend of $0.075 per share is to be paid, along with an additional fully imputed special dividend of a further 2cps, bringing the total for the year to 20cps.

Bottomline net profit was down 56.8 per cent to $NZ164 million ($A130.86 million).

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