Spark set to walk a cashflow tightrope after tough year

Spark CEO Jolie Hodson says most of the restructuring is done, but a few changes are yet to come. (Image: NZME)

Mon, 26 Aug 2024

Spark is reducing its labour costs by $50 million and focusing on datacentre investment as it adapts to meet changes in the economic environment.The New Zealand Exchange-listed (NZX) telco's financial results for the 12 months to June 30 reflected a challenging year, particularly a sudden economic downturn in the second half.On an investors call Friday, Spark's chief financial officer, Stefan Knight, said the results were “significantly below our aspiration”.“When the market turned significantly in the second half, we...

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