Vocus net profit slips 44% to $34 million

Vocus Group says its full-year statutory net profit fell 44 per cent to $34 million but the telecommunications company, which owns the Dodo and iPrimus brands, has met its guidance.

The telco on Thursday reported revenue of $1.892 billion for the 12 months to June 30, an 0.4 per cent increase from the previous year’s $1.884 billion, and its board said it had decided not to declare a final dividend.

It said a federal government-funded project for an undersea fibre optic cable linking the Solomon Islands, Papua New Guinea and Australia was on track to arrive in Sydney by the end of the month.

AAP

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