Spark NZ annual profit up 13 per cent

Company News

by Jessica Ellerm

Spark New Zealand (ASX:SPK) has reported its net profit has jumped 13 per cent to $NZ418 million, in the full year to 30 June 2017.

The telecommunications company’s revenue also grew 3.3 per cent to $NZ3.614 billion as a result of strong performance in its IT services and mobile divisions.

Overall earnings before interest, tax, depreciation and amortization lifted by 3 percent to $NZ1.016 billion.

A one off $20 million gain from the sale of surplus land in Auckland also bolstered the balance sheet.

Spark has declared a full year dividend of 25 cents per share.

Shares in Spark New Zealand (ASX:SPK) closed 0.55 per cent lower yesterday at $3.63.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.