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MarketScreener Homepage  >  Equities  >  New Zealand Stock Exchange  >  Spark New Zealand Limited    SPK   NZTELE0001S4

SPARK NEW ZEALAND LIMITED

(SPK)
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Spark New Zealand : New Zealand Regulator Tackles High Mobile Phone Bills

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09/16/2020 | 05:49pm EDT

By Stephen Wright

WELLINGTON, New Zealand--About a third of mobile phone users are paying more than they need to, New Zealand's competition regulator said Thursday, calling on telecommunications companies to increase billing transparency.

A study of nearly 80,000 mobile phone bills found 7.0% of people could save an average of about 580 New Zealand dollars ($390) a year by moving to a cheaper plan that matches their usage, the Commerce Commission said. Another quarter could save about NZ$139 a year, it said.

"Our work suggests that some consumers are significantly overspending on their mobile plans due to transparency and inertia problems in the market," the regulator said.

In an open letter to three mobile companies--Spark New Zealand Ltd., 2degrees and Infratil Ltd.-owned Vodafone New Zealand--the regulator said it expects them to address overspending.

The companies can increase usage information for customers and implement measures that help keep people on plans that reflect their actual requirements, it said.

Work will also begin, the regulator said, on developing a "consumer data right" that will help people share their mobile usage, spending and product information with competitors and comparison services.

The Commerce Commission research also found that 54% of people had not changed their mobile phone company in the last five years while more than two thirds never or rarely considered their mobile plan options.

 

Write to Stephen Wright at stephen.wright@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
INFRATIL LIMITED 1.43% 4.97 End-of-day quote.-1.39%
SPARK NEW ZEALAND LIMITED -2.45% 4.57 End-of-day quote.5.54%
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Financials
Sales 2021 3 571 M 2 413 M 2 413 M
Net income 2021 412 M 278 M 278 M
Net Debt 2021 1 429 M 966 M 966 M
P/E ratio 2021 20,5x
Yield 2021 5,40%
Capitalization 8 395 M 5 688 M 5 674 M
EV / Sales 2021 2,75x
EV / Sales 2022 2,68x
Nbr of Employees 5 224
Free-Float 99,9%
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Mean consensus HOLD
Number of Analysts 9
Average target price 4,59 NZD
Last Close Price 4,57 NZD
Spread / Highest target 9,41%
Spread / Average Target 0,46%
Spread / Lowest Target -12,5%
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Managers
NameTitle
Jolie Hodson Chief Executive Officer & Executive Director
Justine Smyth Chairman
Stefan Knight Chief Financial Officer
Mark Beder Technology Director
Charles Sitch Independent Non-Executive Director
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