Spark extends Cat-M1 IoT network across New Zealand Just five months after launching the network, Spark has announced that its Cat-M1 IoT coverage now reaches 98 percent of the New Zealand population. New Zealand telco Spark has reported a sharp increase in its profits for the 2019 fiscal year, reporting that net profits increased 12% to NZ$409 million, and earnings before finance income and expense, income tax, depreciation, amortisation, and net investment income (EBITDAI) broke past the NZ$1 billion mark with an 11% jump to NZ$1.09 billion. Compared to last year, revenue was absolutely flat at NZ$3.53 billion, made up of contributions of NZ$1.27 billion from its mobile business representing a 2.7% increase and NZ$486 million from voice which was a 15% fall. Spark’s broadband business saw revenue increase by NZ$20 million to NZ$685 million, its cloud and security business grew revenue by 8.1% to NZ$400 million, while managed data and networks saw revenue drop 4.8% to NZ$197 million. In terms of connections, Spark added 57,000 mobiles to record 2.5 million in total, while voice and broadband were mixed. Legacy technologies of copper broadband and POTS and ISDN connections dropped by 28% to 249,000 and 17.8% to 329,000 connections respectively, while fibre connections grew 28.6% to 306,000 and wireless jumped 20.7% to 140,000. VoIP connections now total 62,000, and voice over wireless recorded a 86% increase to 26,000 connections. “We’ve grown our business in the highly competitive mobile and cloud services categories, held our broadband position, entered new markets like… [Read full story]
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