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Spark FY revenues down 2.6%

2014-08-22 09:31:00| Telecompaper Headlines

(Telecompaper) Spark New Zealand reported FY14 net earnings from continuing operations of NZD 323 million, up 19.6 percent year-on-year. However, when the impact of a one-off restructuring charge is removed from the prior year numbers, adjusted net earnings from continuing operations were down 7.7 percent. Total operating revenues from continuing operations were down 2.6 percent from NZD 3.73 billion to NZD 3.63 billion. Much of this was attributable to the ongoing decline in legacy fixed products, the company said. Strong mobile performance saw total mobile revenue up 6 percent, helping to offset the fixed revenue decline.

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