Telecom says it's on track to meet its second half before tax earnings guidance of $560 million.
It's expecting net earnings to be near the top end of the 160 to $190 million guidance range.
Chief executive Chris Quin says despite increased competition their focus on reducing costs has kept them on track.
In another cost cutting move Telecom has de-listed from the New York Stock Exchange.
Mr Quin says it will reduce administration costs and complexity associated with the listing.