Spark New Zealand Cuts Fiscal 2025 Earnings, Dividend Guidance Amid Challenging Conditions; Shares Hit Nine-Year Low

MT Newswires Live10-30

Spark New Zealand (NZE:SPK, ASX:SPK) lowered its earnings and dividend guidance for fiscal 2025 on the back of challenging conditions in the mobile and information technology markets, according to a Wednesday filing with the New Zealand and Australian bourses.

"The challenges we are facing are both cyclical and structural. Weak business investment and consumer spending continue to curtail growth and squeeze margins. At the same time, we are undertaking a significant transformation of our Enterprise and Government division to address structural segment challenges," said Spark Chair Justine Smyth.

Earnings before finance income and expense, income tax, depreciation, amortization, and net investment income are now expected at NZ$1.12 billion to NZ$1.18 billion, down from a previous guidance of NZ$1.17 billion to NZ$1.22 billion.

The dividend is forecast at NZ$0.25 per share, compared with a prior guidance of NZ$0.275 per share.

The telecommunications company also cut its capital expenditure guidance to NZ$415 million to NZ$435 million from a range of NZ$460 million to NZ$480 million.

Smyth said the company decided to divest its shareholding in mobile towers business Connexa, with "strong levels of interest" received.

Spark's shares were up over 1% in recent Wednesday trade in New Zealand and earlier hit their lowest since August 2015.

Price (AUD): $3.00, Change: $+0.040, Percent Change: +1.35%

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