Spark New Zealand Reports Challenging FY24

Spark New Zealand Limited (AU:SPK) has released an update.

Spark New Zealand has reported a challenging financial year, with an overall decline in revenue, EBITDAI, and net profit due to tough economic conditions and increased competition. Despite surpassing $1 billion in mobile service revenue and growth in cloud and high-tech sectors, the company struggled with decreased demand in IT services and consumer spending. The FY24 results include a total dividend of 27.5 cents per share, with a promise of cost reductions and growth investments moving forward.

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