Spark New Zealand hits near 11-year low on profit slump and forecast cut

Spark New Zealand

21/02/2025 24:00

** Shares of Spark New Zealand  SPK.NZ  fall as much as
19.5% to NZ$2.360, their lowest since March 27, 2014
    ** Stock set for biggest one-day pct drop on record
    ** Telecommunications and digital services co reports 77.7%
decline in HY NPAT to NZ$35 million ($20.17 million)
    ** Co reduces FY25 EBITDAI guidance to between NZ$1,040
million and NZ$1,100 million from NZ$1,120 million to NZ$1,180
million
    ** 3.9 million shares change hands, 1.7x the 30-day average
    ** Stock down ~19% YTD, including session's moves

($1 = 1.7352 New Zealand dollars)

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)
 ((Jasmeenaraislam.shaikh@thomsonreuters.com))