Spark reports growth in mobile and data services
22 August 2014 | Kavit Majithia
New Zealand operator Spark has reported a 94% rise in net annual profit after seeing growth in mobile and data services.
Spark, which was formerly Telecom New Zealand, rebranded earlier this month and posted a net profit of NZ$384.90 million for the year ending June 30, indicating a significant increase from its figure of NZ$236 million a year ago.
EBITDA slipped 4% to NZ$936 million, but was in line with the company’s earlier forecasts of NZ$925 million to NZ$945 million.
Spark has experienced a significant decline in legacy fixed services, but the decline was offset by growth in mobile and data services, and the company is now expecting to see a rise in earnings next year.
The company is undergoing a restructuring programme by consolidating its operations, after quitting its business in the Cook Islands and Australia earlier this year in the face of domestic competition.
Watch out for Capacity’s big interview with Spark’s general manager of wholesale and international in the upcoming August/September issue of Capacity magazine.
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