Spark New Zealand hits 22-year high on upbeat forecast, results

Spark New Zealand

24/08/2022 05:44

** Shares of Spark New Zealand  SPK.NZ  rise as much as 2%
to NZ$5.4, hitting their highest level since Aug 17, 2000
    ** SPK sees http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/SPK/397478/377291.pdf
 a total dividend of 27 NZ cents per share for FY23, up from the
total FY22 dividend of 25 NZ cents per share
    ** Co expects to record EBITDAI excluding gains on sale of
70% stake in its TowerCo business in the range of NZ$1,185 mln
to NZ$1,225 mln ($733.04 mln- $757.79 mln) for FY23 
    ** For FY22, co reported a 7.6% increase in net profit from
cont ops to NZ$410 mln and a 3.5% increase in revenue from cont
ops 
    ** Stock up ~17.2% this year, as of last close

     ($1 = 1.6166 New Zealand dollars)

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))