Spark explains the impact of new accounting, NZX rules and restructuring

Mon, 03 Dec 2018

By Jenny Ruth Dec. 4 (BusinessDesk) - Telecommunications company Spark New Zealand restated guidance for the year ending June next year to reflect its adoption of new accounting standards and listing rules and its own restructuring. The new accounting standards affect revenue from contracts with customers and leases. The changes mean Spark now expects revenue to be $70 million lower at $3.53 billion-$3.6 billion and earnings before interest, tax, depreciation, amortisation and investment income, or ebitdai, will be $40 million higher a...

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