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Spark raises dividends as underlying profits improve

2015-08-21 09:30:00| Telecompaper Headlines

(Telecompaper) New Zealand operator Spark reported revenues for its fiscal year to June down 2.9 percent to NZD 3.531 billion, as growth in mobile and IT services revenues was offset by the continued decline in calling and access revenue. EBITDA from continuing operations rose 2.8 percent to NZD 962 million, helped by a 5 percent fall in operating costs, and net profit increased 16.1 percent to NZD 375 million. Including discontinued operations, net profit was down 18.5 percent following a gain on the sale of Australian unit AAPT. After an increase in capital expenditure last year for one-off projects such as the Single RAN and re-engineering, Spark forecast a drop in spending next year. The group also completed its 'Turnaround Programme' in the past year, helping increase operating cash flow. This should help boost the dividend to 22 cents a share, from 20 cents for the past year and 17 cents the previous year. Spark also plans a special dividend of 3 cents a share next year. 

Tags: improve underlying profits raises

 

Exclusive: Public utilities chief raises red flags on Hunt plan to buy Oncor

2015-08-21 04:39:37| Oil & Gas - Topix.net

Texas Public Utilities Commissioner Ken Anderson today raised concerns about a plan put forth by Dallas-based power company Energy Future Holdings to escape bankruptcy by selling its electricity transmission company Oncor to a consortium led by billionaire Ray L. Hunt and Hunt's companies. For the inside story on why Hunt wants Oncor, including extensive comment from Hunt Consolidated Energy CEO Hunter Hunt, read my cover story in this week's edition.

Tags: buy public plan red

 
 

AWE raises gas reserve estimate at Perth Basin in Western Australia to 721bcf

2015-08-21 01:00:00| Hydrocarbons Technology

Oil and gas exploration and production firm AWE has announced initial 2P Reserves and upgraded 2C Contingent Resource estimates for the Waitsia gas field located at the Perth Basin in Western Australia.

Tags: to australia western gas

 

Smart glass maker View raises $150M in new funding

2015-08-13 18:43:02| Electronics - Topix.net

The Milpitas company led by CEO Rao Mulpuri said the round included NZ Super Fund as a new investor and included existing investors Corning Inc., Madrone Capital Partners and some big real estate investors. View's "dynamic glass" is designed to maximize natural light and unobstructed views while reducing heat and glare.

Tags: view glass smart funding

 

Atlanta startup Sarvint Technologies raises $6M to develop a "smart shirt"

2015-08-12 16:36:38| Semiconductors - Topix.net

The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals. Atlanta startup Sarvint Technologies has raised $6 million to develop a "smart shirt" - a sensor-laden garment that can help athletes train and monitor patients recovering from surgery.

Tags: develop technologies smart shirt

 

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