JOURNAL ARTICLE

Spark New Zealand Cuts Earnings Guidance Amid Weak Economy.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Withers, Tracy 3 of 3

Abstract

Spark New Zealand has revised its earnings guidance downwards due to a weak economy affecting demand for mobile and IT services. The company plans to sell assets to strengthen its balance sheet, including divesting its 17% shareholding in Connexa. Spark's operating earnings could be NZ$45 million lower than previously forecast, with a reduced full-year dividend and capital spending. The company attributes its financial performance to cyclical and structural challenges, aiming to achieve cost reductions through a transformation program. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/10, pN.PAG
  • Document Type:Article
  • Subject Area:Communication and Mass Media
  • Publication Date:2024
  • Accession Number:180633640
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