Spark valuation plummets $1 billion as profit crashes

Spark has already twice downgraded its earnings forecasts. (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 revised full-year dividend guidance.Shares – already down 42% over the past year after two forecast downgrades – were down 19.3% to $2.37 in midday trading. The shares closed on $2.93 yesterday giving the company a market capitalisation of $5.4 billion but that has fallen to $4.4b this morning after the result.A cost-cutting drive is set to inten...

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