KEY POINTS:
Woosh Wireless has posted a net $24 million annual loss, but believes it will break even around June this year.
The telco's loss for the year to June was up from a $21.8 million loss the previous year.
Ebitda (earnings before interest, tax, depreciation and amortisation) was $12 million, a 19 per cent improvement on last year.
Chief financial officer Gary Neill said investment in the company's wireless network accounted for the difference between the operating loss or ebitda and the net loss.
The company is rolling out a wireless network in Auckland, Wellington, Christchurch and Southland.
Operating revenues were down slightly to $10.4 million from $11.4 million the year before.
- NZPA
