Spark lowers FY guidance

(Image: NZME)

Fri, 21 Feb 2025

Spark has reported a 78% fall in net profit to $35 million in the first half of its 2025 financial year and reduced its full-year operating earnings guidance. However, it has maintained its full-year dividend guidance.A cost-cutting drive is set to intensify, implying more job cuts.Reported earnings before interest tax, depreciation, amortisation and net investment income (Ebitdai) declined 20.9% to $419m.“When we updated the market in October, we outlined that we were experiencing one of the longest and deepest recessionary periods in re...

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