2degrees swings to $17.2m profit, analyst sees potential big gains in One NZ mobile partnership

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2degrees chief executive Mark Callander. Photo / Michael Craig

Telco company 2degrees has swung to a net profit with revenue gains across all areas of its business amid the tough economy.

For the 12 months to June 30, the privately held firm made a net profit of $17.2 million – a turnaround from the $18.2m loss in FY2025.

Revenue rose 5.5% to $1.46 billion, with mobile revenue up 4.3% to $603.3m and broadband revenue up 1.1% to $437m.

“We’re seeing the benefits of the merger [with Orcon] flow through. Increased scale with the benefits of combining workforces and consolidating platforms,” chief executive Mark Callander said.

Its 2026 financial year was the first year without any integration costs since the 2022 deal that created the firm.