February 19, 2018 / 9:57 PM / a month ago

Australia’s Vocus cuts 2018 guidance as H1 profit dips

Feb 20 (Reuters) - Australia’s fourth largest telecom operator Vocus Group Ltd said first half underlying net profit fell 25 percent as dwindling voice customers hurt its Australian consumer business.

Underlying profit was A$68.6 million ($54.27 million) for the six months to Dec. 31, the company said on Tuesday, missing an average estimate of A$69.5 million, according to two analysts polled by Thomson Reuters I/B/E/S.

The company slashed its underlying profit guidance for fiscal 2018 to A$125 million to A$135 million from its previous estimate of A$140 million to A$150 million.

The company did not declare an interim dividend compared with a payout of 6 Australian cents a year ago. ($1 = 1.2641 Australian dollars) (Reporting by Devika Syamnath in Bengaluru; Editing by Byron Kaye)

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