0037 GMT - For Spark NZ, this year likely won't be as bad as 2024, which included two downgrades to its guidance. Still, Forsyth Barr says the New Zealand telco's improvement will be driven by cost savings rather than revenue growth. Analyst Aaron Ibbotson expects Spark NZ's cash flow generation will be positive again, partly due to big cut in capex. But while its free cash flow is improving, it won't cover its dividend in FY 2025, Forsyth Barr says. "Further non-core assets sales may be announced in order to cover its dividend shortfall or fund its data center developments," Forsyth Barr says. Spark NZ is due to report its 1H results on Feb. 21. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 13, 2025 19:37 ET (00:37 GMT)
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