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Technology Stocks : PCW - Pacific Century CyberWorks Limited

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To: ms.smartest.person who wrote (2181)	3/10/2002 9:35:34 PM
From: ms.smartest.person	Read Replies (1) of 2248

Telstra Wireless Will Cut its Costs to Boost Profit, Paper Says By Mathew Carr Melbourne, March 11 (Bloomberg) -- Telstra Corp.'s wireless unit, Australia largest mobile phone carrier, will cut its costs to restore profit margin growth, the Australian Financial Review reported. Citing David Thodey, Telstra's group managing director for wireless, the newspaper said the cellular unit had its profit margin fall two percentage points to 41.7 percent in the six months to Dec. 31 as the unit's costs rose 18 percent and revenue climbed 12 percent. ``We won't have the same rate of expense growth in the second half and the full-year results will show a very different story,'' the newspaper quoted Thodey as saying. Telstra, which Wednesday reported fiscal first-half profit of A$2.098 billion ($1 billion), has been focusing on cutting costs because of slower growth in both sales and profits. quote.bloomberg.com

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