Spark New Zealand reported FY14 net earnings from continuing operations of NZD 323 million, up 19.6 percent year-on-year. However, when the impact of a one-off restructuring charge is removed from the prior year numbers, adjusted net earnings from continuing operations were down 7.7 percent. Total operating revenues from continuing operations were down 2.6 percent from NZD 3.73 billion to NZD 3.63 billion. Much of this was attributable to the ongoing decline in legacy fixed products, the company said. Strong mobile performance saw total mobile revenue up 6 percent, helping to offset the fixed revenue decline.
Net earnings including discontinued operations (the AAPT business) amounted to NZD 460 million. In the second half of the year, Spark added 83,000 mobile connections, which means the operator added around 280,000 mobile connections since the closure of the CDMA network in mid-2012. Spark currently has over two million mobile connections.
