Spark and Port of Tauranga announce results


Two of the country's highest profile companies have unveiled their results.

Spark has announced a net profit of $158 million for the six months to December, up 7.5 percent from the same period a year ago.

The country's biggest telecommunications company says a rise in broadband and mobile use offset declines in its fixed line business.

Total revenue for the period was 1.72 billion. That was a drop of four percent.

Spark New Zealand Chairman Mark Verbiest says "Notably, for the first time in many years, mobile and IT services revenue growth, excluding divestments and regulatory changes, has more than offset ongoing decline in landline voice and legacy data products, demonstrating a successful rebalancing of the company's focus."

Spark says the demand for fibre is "booming."

But it cautions that "a poor industry-wide fibre provisioning process is impacting customers, driving an increase in complex queries involving multiple parties and placing pressure across our contact centres. A dedicated effort on a number of fronts is underway to improve the customer experience."

It plans to pay annual dividends of 22 cents per share and special dividends of 3 cents per share in this financial year. It believes the special dividends could continue into next year if there are no significant business changes.

Meanwhile, Port of Tauranga has announced a net after tax profit of $38.6 million for the six months to December.

The country's largest port says growth in container and dairy export volumes offset a drop in log exports, producing a total rise in export volumes to nearly 6.5 million tonnes.

Dairy product exports rose 29 percent. Kiwifruit exports increased by 22.9 percent.

The log volumes decreased 16.2 percent.

The Board has declared an interim dividend of 23 cents per share, up 4.6 percent on the prior year's interim dividend. The record date for the interim dividend is 11 March 2016 and the payment date is 25 March 2016.

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