TeamTalk, owner of Wellington's CityLink fibre provider, has reported a net proft of $2.3 million for the six months to December 31, a 21 percent increase on the 2009 second half-year result.
Revenue from CityLink contributed significantly to the result, providing $6.8 million of the group's $15.6 million revenue for the half-year, up from $4 million the previous July-December period. The firm's radio division provided the rest of the revenue.
TeamTalk acquired a majority stake in CityLink in 2006, and later upped its ownership to 100 per cent.
The report accompanying the result notes: "The regulatory haze that has befuddled the telecommunications industry for the last two years is slowly clearing. The overall shape of the government’s policies in rural telecommunications, urban broadband and the cellular market is starting to emerge. Broadly speaking these policies will increase the penetration of generic broadband products but leave the markets for TeamTalk’s specialised products largely unaffected.