Spark annual profit almost doubles on AAPT sale, grows mobile revenue

Thu, 21 Aug 2014

By Paul McBeth Aug. 22 (BusinessDesk) - Spark New Zealand, the rebranded Telecom Corp, almost doubled annual profit on the sale of its Australian AAPT unit, and grew mobile revenue as it repositions itself away from relying on dwindling landline use. Net profit rose to $460 million, or 25 cents per share, in the 12 months ended June 30, from $238 million a year earlier, when it booked a series of charges as part of a radical overhaul of its business. Excluding the $137 million gain from the sale of AAPT and restructuring costs in 2013, ea...

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