29 Aug 2012

Team Talk eyes mid-size acquisitions

9:32 am on 29 August 2012

TeamTalk is anticipating acquisition opportunities over the next year will come from middle-sized telecommunications companies being squeezed as a result of the ultrafast broadband initiative.

The listed mobile radio and broadband company's profit after tax was $5.4 million for the year to June, an increase of 15.9% compared with last year.

TeamTalk says the Government's $1.3 billion investment into ultrafast broadband and the splitting of Telecom's retail and network arms means big changes are afoot for the industry, as customers begin to expect more for less.

The company's managing director, David Ware, says it is going to be a tough year, but - putting aside potential acquisitions - it expects the next financial year's operating earnings to be in line with this year's results.