Spark reports profit drop of 4.8%

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)
Staff reporters
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...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
Forsyth Barr initiates full Turners coverage
Markets

Forsyth Barr initiates full Turners coverage

Forsyth Barr says a premium valuation is now warranted. 

Rebecca Howard 26 Jul 2024