Spark cuts FY18 earnings guidance | Finance News Network

Spark cuts FY18 earnings guidance

Company News

by Rachael Jones

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.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.