Market Briefs: Telecom NZ, SMS Management, e-pay Asia

Telecom NZ still negotiating over UFB participation: CEO; SMS Management grows 1H profit 14.9 per cent; e-pay Asia hires new non-executive director

Telecom NZ still in talks over UFB project

Telecom NZ (ASX:TEL) is still in negotiations for a deal for its participation in New Zealand's Ultrafast Broadband project, according to CEO Paul Reynolds.

In a statement to the media, Reynolds said he was “committed to finding a solution for [the project] that meets the needs of its shareholders, the Government and New Zealand,” but that its participation is predicated on reaching a commercial agreement.

Reynolds was reacting to an announcement from the nation's communications minister, Steven Joyce, that the government was preparing legislative changes that would apply if Telecom NZ agrees to structurally separate as a result of reaching an agreement.

TEL shares were unchanged on Wednesday at $1.680.

SMS Management lifts 1H profit 14.9%

Consulting, technology and systems integration company SMS Management & Technology (ASX:SMX) grew its 1H profit 14.9 per cent to $15.2 million.

The company increased its ebitda 18.8 per cent to $21 million, and revenue 24.7 per cent to $146 million, as a result of strong sales in the face of growing competition and the deferral of some significant sales and contracts.

During the quarter, the company also acquired IBM Filenet integrator Renewtek and Microsoft Sharepoint implementer Microgenx. SMX shares dipped 1.45 per cent on Wednesday to $6.780.

e-pay Asia appoints non-executive director

Mobile top-up payment service provider e-pay Asia (ASX:EPY) has appointed Singam Sabaratnam as its new non-executive director.

Sabaratnam has more than 20 years' experience in the management of sales and customer service, mostly in the ICT sector. He has worked for such companies as Australia's Primus.

He also has experience building sales channels in Asia, e-pay Asia said. EPY shares stayed flat on Wednesday at $0.170.

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Tags SMS Management & Technologye-pay Asiaappointmentsmarket briefsUltrafast Broadband (UFB)careersprofitTelecom NZ

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