Spark cuts guidance, vows to win back shareholder confidence

Spark chair Justine Smyth. (Image: Supplied)

Wed, 30 Oct 2024

Spark New Zealand has bitten the bullet on its deteriorating performance, slashing its earnings guidance, dividend outlook, and promising further cost savings and asset sales to “win back the confidence of our shareholders”.In a statement to the NZ Exchange (NZX) on Wednesday morning, the telecommunications provider shaved $45 million, or 4%, off its guidance for operating earnings as it faced “both cyclical and structural” challenges.Earnings before interest tax, depreciation, amortisation and net investment income (Ebi...

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