UPDATE: Spark shares fall 3.9% as slowing cost-cuts put pressure on second-half

Thu, 19 Feb 2015

(Updates and recasts with share price, investor and briefing comment) By Paul McBeth Feb. 19 (BusinessDesk) - Spark New Zealand shares fell 3.9 percent on concern the country's biggest telecommunications company slowed the pace of cost cutting in its first half, increasing the challenge of meeting annual earnings guidance. The stock fell as much as 14 cents to $3.17, the lowest since Jan. 16, and recently traded at $3.18 after the Auckland-based company released first-half results showing operating expenses of $1.36 billion. While that...

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