Vocus Confirms Write-Offs

As expected, Vocus Group booked a $1.5 billion loss for the year to June 30, compared with a $64 million profit in the previous period after the more than $1.5 billion in asset write-downs across its Australia and New Zealand businesses announced last week.

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Challenges Exposed For Vocus

In highlighting its opportunities, Vocus Communications has also exposed challenges and brokers believe it will take some time for the company to achieve on expectations. The opportunities are significant but none of them are easy, Citi asserts. The company needs to fix cash flow, churn and provisioning issues, automate processes and boost its cross-sell rates. If all this can be achieved, then there is significant upside.

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Vocus Outlook Offline

This is what you get when you spend nearly $6 billion expanding to become a major player in a key Australian business sector, and it all turns to mush – shareholders see the value of their shares plunge and they end the day more than $600 million poorer.

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