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Spark New Zealand Limited ( (AU:SPK) ) has issued an update.
Spark New Zealand has announced its H1 FY25 results, showing a decline in revenue, EBITDAI, and NPAT due to a challenging recessionary environment. Despite this, Spark maintains its leading position in the mobile and broadband sectors. In response to ongoing economic challenges, the company is taking decisive actions, including reducing its FY25 EBITDAI guidance and maintaining its capex and dividend guidance. It is also implementing a significant transformation of its operating model to achieve cost savings and simplify its portfolio by selling its stake in Connexa, with proceeds expected in Q3. Additionally, Spark is seeking a capital partner to accelerate its data center growth strategy.
More about Spark New Zealand Limited
Spark New Zealand is the largest telecommunications and digital services company in New Zealand, providing mobile, broadband, and digital services to millions of New Zealanders and businesses.
YTD Price Performance: -1.86%
Average Trading Volume: 2,129,033
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$4.86B
For a thorough assessment of SPK stock, go to TipRanks’ Stock Analysis page.
