Spark NZ posts 82.9% jump in half-year profit on improved mobile performance
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The news: Spark New Zealand reported an 82% jump in half-year net profit, citing continued stabilisation and growing momentum in its core connectivity business.
The Numbers: The telecoms company has reported half-year net profit of NZD64 million ($54 million), up from NZD35 million a year earlier.
Revenue fell 1.2% to NZD1.89 billion, missing analysts' estimates of NZD1.94 billion, as growth was offset by declines in legacy revenues.
Earnings before interest and tax (EBITDA) came in at NZD448 million, a 10.3% increase year-on-year.
The company declared an interim dividend of 8 NZ cents per share, down from 13 NZ cents a year prior and in line consensus expectations.
The context: CEO Jolie Hodson attributed the earnings boost to improved mobile performance and the delivery of significant cost reductions under the group's five-year SPK-30 strategy.
Spark reaffirmed its FY26 EBITDA guidance range of between NZD1.01 billion and NZD1.07 billion.
The source: ASX
