Spark New Zealand registered steady gains in mobile revenue, users and ARPU in its fiscal H2 2022 (ending 31 June) and raised capex to roll out its 5G network.
In an earnings release, CEO Jolie Hodson said Spark returned to revenue growth with a market-leading result in mobile, and IoT and digital health accelerating.
Mobile service revenue rose 3.9 per cent year-on-year to NZD458 million ($283.6 million) and ARPU 4 per cent to NZD30.84.
Spending on mobile networks grew 18 per cent and accounted for 30 per cent of total capex in fiscal 2022. Spark stated it now offers 5G service in 12 locations and targets 90 per cent population cover by end-June 2023.
Capex for the year increased 17.5 per cent to NZD410 million and is forecast to remain at the same level in fiscal 2023.
Prepaid subscribers were flat at 1 million and post-paid increased 3.7 per cent to 1.4 million.
IoT connections jumped 75 per cent to 832,000.
Net profit improved 29 per cent to NZD231 million, with net financing, depreciation and amortisation and tax expenses all stable.
Total operating revenue fell 3.2 per cent to NZD1.8 billion, as broadband sales dropped 12.1 per cent to NZD152 million and its cloud business fell 6.7 per cent to NZD167 million, attributed to continued lockdown measures.
Original article can be seen at: