Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James & team, What are your views on Spark New Zealand (SPK), after there recent results, from both a future growth (in share price) and income perspective? Am I catching a ‘falling knife’, or do you see value emerging here, at the current share price? Thanks Chris G
Hi Chris,
It’s been a tough week/month for NZ Telco SPK, especially when compared to Australian local peers. SPK’s FY24 result missed the mark by a long way as they failed to pivot on costs quick enough for a more subdued sales environment.
The miss was largely caused by cuts to public spending and deferred private sector spending weighing on IT services revenue. They are guiding for a slight uptick in earnings in FY25, though we suspect it will take the market some time to believe them!
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