Vocus signs Vodafone NZ

$8.99 million wholesale carriage deal

VOCUS Communications Limited (ASX: VOC), has signed up Vodafone New Zealand as its latest customer in a $NZ11.3 million ($8.99 million) deal.

Under the contract, Vocus will supply Vodafone New Zealand Limited with all its international data capacity on a multi-year term, once the telco’s current supply contracts finish.

According to Vocus, the contract represents a significant upgrade to the current capacity which Vocus supplies the New Zealand mobile and fixed line operator.

The deal follows news in July that the telecommunications wholesaler was off to an auspicious start in its publicly listed life, announcing an upgrade it in its earnings guidance for the year to 30 June.

Vocus informed the market it is now expecting revenues of $17.48 million for the full 2009/10 financial year, up from previous expectations of $16.08 million given in its initial public offering prospectus.

It said it was also expecting before-tax profits of $5.69 million, a rise of 15 per cent over the prospectus forecast.

In June the company said its decision to sell itself to an ASX-listed private equity firm and undergo a public offering appeared to have paid off, with the initial prospectus closing oversubscribed.

In April, Vocus made the announcement that it had been sold to the Investec Wentworth Private Equity-managed First Opportunity Fund Limited (ASX:FOF) for $20 million. Shareholders of First Opportunity Fund voted in favour of the deal on 16 June.

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