NZ's Telecom shares fall to 14-½ yr low on poor earnings

WELLINGTON, Feb 8 (Reuters) - Shares in Telecom Corp of New Zealand (TEL.NZ: Quote, Profile, Research) slipped to a fourteen and-a-half year low after its quarterly profit fell by 25 percent.

The share price fell 4.4 percent or 18 cents to NZ$3.92 after moving between $3.92 and $5.13 in the past 12 months.

The company booked an October-December net profit of NZ$172 million ($135.4 million), compared with NZ$228 million in the same period in 2006. (NZ$1=$1.27)