Telco contractor gets two Telecom contracts extended

GDC's control of the Auckland central and Papatoetoe (south Auckland) "patches" have been extended until August 2004. The contracts were first signed in 1999 for a three year period, with an option for Telecom to extend for a further two years.

GDC has contracts to run seven of the 34 "patches" or regional areas of Telecom's network, which are all are up for review over the next year.

Management has previously described a "sinking lid" on Telecom's contracting rates which was affecting contractors as a whole.

GDC recently reported an after tax profit of $3.5 million on revenue of $68.7 million for the year to December 2001.

It generated $42 million in revenue, while revenue from telecoms and IT services including iVASP was $25 million.

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