2degrees records maiden profit of $13.4m

Telco 2degrees recorded its first profit in 2016 as it doubled the size of its broadband subscriber base, it was announced today.

The 7-year-old mobile and broadband provider filed its 2016 financial statements today, which show a revenue of $702.7 million and a $13.4m profit.

Company chief executive Stewart Sherriff said its post-paid mobile customer base also grew by 19 per cent.

"Last year was a turning point for 2degrees. Total revenue grew as average customer revenues increased, while network costs reduced as we completed a mobile network extension programme. Our mobile customers enjoy 97.5 per cent coverage," he said.

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