Home Spark raises dividends as underlying profits improve
 

Keywords :   


Spark raises dividends as underlying profits improve

2015-08-21 09:30:00| Telecompaper Headlines

(Telecompaper) New Zealand operator Spark reported revenues for its fiscal year to June down 2.9 percent to NZD 3.531 billion, as growth in mobile and IT services revenues was offset by the continued decline in calling and access revenue. EBITDA from continuing operations rose 2.8 percent to NZD 962 million, helped by a 5 percent fall in operating costs, and net profit increased 16.1 percent to NZD 375 million. Including discontinued operations, net profit was down 18.5 percent following a gain on the sale of Australian unit AAPT. After an increase in capital expenditure last year for one-off projects such as the Single RAN and re-engineering, Spark forecast a drop in spending next year. The group also completed its 'Turnaround Programme' in the past year, helping increase operating cash flow. This should help boost the dividend to 22 cents a share, from 20 cents for the past year and 17 cents the previous year. Spark also plans a special dividend of 3 cents a share next year. 

Tags: improve underlying profits raises

Category:Telecommunications

Latest from this category

All news

»
27.113Q3
27.113DS 52
27.11
27.11Xotic Effects BB+ Plus
27.11
27.11 J. Lindeberg SS /
27.11
27.11DX
More »