13 million dollar earnings for Telecom's outgoing boss - Audio

interest.co.nz Bernard Hickey laments the money paid to outgoing Telecom boss Paul Reynolds. Chorus produced a better than expected maiden profit of over NZ$100 mln and its shares rose 6.7% to a four month high of NZ$3.37/shares. Hellaby Holdings has reported a 26% rise in net profit to NZ$26 million. The diversified shoes to automotive equipment industrial has completed a five year turnaround with strong profits, dividends and much lower debts. Its shares have almost doubled in the last two years to record highs. At the other end of the performance table, NZ Farming Systems Uruguy reported a smaller but still bigger than expected loss because of lower milk prices and foreign exchange losses. It is looking at a rights issue to repay a loan from its SIngaporean majority shareholders. m ot