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New Zealand's 2Degrees Shrinks Annual Losses

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New Zealand's smallest mobile network operator, 2Degrees has continued to shrink its annual losses, five years after it launched its services.

The company recorded a net loss of NZ$35.9 million for the previous year, down on the loss of NZ$45.2 million a year earlier.

However, EBIDTA, the underlying measure, continued to record a profit, of NZ$35.3 million, up on the NZ$3.8 million reported in 2012, when the company first made a positive EBITDA.

Revenues also rose, by 21 percent to NZ$263.1 million.

The company estimates that its share of the country's mobile revenues now stands at 21 percent, although it has not confirmed the customer base numbers.

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Tags: 2degrees  New Zealand