Spark reports profit drop of 4.8%

The telco's first-half results were inflated by the sale of most of its celltower network. (Image: Paul Estcourt)

Wed, 28 Feb 2024

Spark’s adjusted net profit fell 4.8% to $157 million for the first half of its FY2024 financial year, but adjusted Ebitdai was up, and the telco reaffirmed its full-year earnings and dividend guidance.Numbers for the first half of FY2023 were inflated by the sale of 70% of Spark’s cell tower network to a Canadian investment fund for $911m.Without adjusting for that windfall, net profit was down 81.8%.Similarly, Ebitdai (earnings before interest, tax, depreciation, amortisation and impairment) fell 49.1% to $530m but was up 3.9% on...

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