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New Zealand Bourse Hit As Telecom Reports Profit Drop
- The New Zealand stock market fell on Friday after the biggest listed company Telecom reported a 15-per-cent drop in annual profit as it faced increasing competition and rising costs.
Telecom shares quickly dropped more than 8 per cent after it posted an annual profit of 713 million New Zealand dollars (about 513 million US dollars), down from 844 million New Zealand dollars the
previous year.
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Created by: handy3 | Created at: 08:25 AM
