19 Feb 2015

Spark's profit falls, mobile business grows

1:15 pm on 19 February 2015

Spark's first half net profit and revenues have fallen, but it says it is closing the gap with its rivals in the growing mobile phone market.

The telecommunications company's net profit fell 12.7 percent to $145 million in the six months to December compared with the year before.

Revenue fell 2.7 percent to $1.78 billion.

Spark said demand continued to fall for traditional services such as fixed line phones and voice services, while it was experiencing steep declines in broadband prices.

However, mobile connections grew by another 108,000 with revenue growing 2.4 percent.

But Spark warned competition was stiff, particuarly in the business sector.