FIRST CUT: Spark annual profit falls 7.9% as Quantum costs kick in

Tue, 21 Aug 2018

By Paul McBeth Aug. 22 (BusinessDesk) - Spark New Zealand posted a 7.9 percent decline in annual profit as the country's biggest telecommunications company booked restructuring costs as it chases the mantle of being the lowest cost operator. Net profit fell to $385 million in the 12 months ended June 30 from $418 million a year earlier, the Auckland-based company said in a statement. That included an additional $49 million of costs in adopting an Agile working structure through the company's Quantum programme. Stripping out those restruc...

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