Spark New Zealand hits near 2-year low on trimming EBITDAI guidance

Spark New Zealand

06/05/2024 01:02

** Shares of Spark New Zealand  SPK.NZ  fall as much as
4.03% to NZ$4.53, its lowest level since June 2022
    ** Stock posts its biggest intraday fall since March 2023
    ** Telecommunications firm says reducing FY24 EBITDAI
guidance
    ** EBITDAI guidance reduced to NZ$1,170 mln ($703.05 mln) to
NZ$1,210 mln from NZ$1,215 mln - NZ$1,260 mln
    ** Reduces FY24 EBITDAI guidance as tough trading conditions
intensify - SPK
    ** Adds no change to FY24 capital expenditure and dividend
guidance
    ** Nearly 343,291 shares change hands as of 2354 GMT, vs
30-day average volume of 2.2 mln shares
    ** Stock down 8.9% YTD as of last close


($1 = 1.6642 New Zealand dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))