Cellnet could face $148M loss when Telecom NZ contract ends
Australian broad-based distributor Cellnet Limited has renewed its logistical and distribution deal with Telecom NZ until October. However, once the contract ends, Telecom NZ will not renew its business with Cellnet, forcing the distributor to face a possible decrease in annual revenue of $148 million and a possible reduction in annual net profit of $1.25 million after tax.