Telecommunications major Spark New Zealand (ASX:SPK) says it expects its core earnings for fiscal 2018 to dip due to acceleration of the Quantum programme and associated costs of change.
Quantum is a performance improvement programme.
Core earnings for the year are expected at between NZ$971 million ($672.90 million) to NZ$991 million ($686.76 million) from an earlier guidance of NZ$996 million to NZ$1.02 billion.
It recorded NZ$996 million in core earnings in 2017.
Shares in Spark New Zealand (ASX:SPK) were up yesterday 0.64 per cent to $3.17.