Six-month net income rises 9% at Spark

18 Feb 2016

Spark (formerly Telecom New Zealand) has released its fiscal first-half financial results for the six months to 31 December 2015. Operating revenues were down 4.1% at NZD1.72 billion (USD1.17 billion), though the firm says taking into account the divestment of its international voice business and 60% stake in Telecom Cook Islands, plus regulatory changes to copper access pricing, first-half sales would have risen 1.6% year-on-year. EBITDA climbed 4.4% to NZD455 million, while net income was up 9.0% at NZD158 million. Mobile revenues jumped 11.7% to NZD563 million as the firm’s wireless subscriber base rose 4.6% in twelve months to 2.21 million. Broadband services brought in NZD339 million, up 4.6% year-on-year, although the customer base was static at 675,000.

New Zealand, Spark