Spark New Zealand profit falls by 1.3% in FY16

Company News

by David Chau

Telco company, Spark New Zealand Ltd (ASX:SPK) has reported a 1.3% fall in net profit to NZ$370 million for FY16.

Spark says the reason was partly due its income tax expense increasing by NZ$35 million to NZ$142 million.

Spark’s EBITDA rose 2.5% to $986 million, which was within its earnings guidance. And revenue was down 1% to NZ$3.5 billion.

Finally, the company declared a final dividend of 11 cents per share, and special dividend of 1.5 cents per share – which will be payable on 7 October.

David Chau

Finance News Network
David joined FNN in April 2016. In addition to presenting the Market Outlook and latest business news stories, David interviews senior economists and CEOs of ASX-listed companies. Prior to working for FNN, David was a litigation lawyer.