6 Nov 2015

Spark closing in on Vodafone in mobile market

1:42 pm on 6 November 2015

Phone and broadband retailer Spark claims to be closing in on Vodafone in the mobile market, and expects to pass its rival and be number one within a year or so.

Its chief executive Simon Moutter told today's annual meeting in Auckland that the company is on track to meet its expectations of up to a 3 percent increase in full-year operating profit, to about $990 million.

He said the company had dramatically increased its share of the mobile market over the past few years, rising from 34 percent three years ago - to about 40 percent of sales now.

Mr Moutter said Spark had about 2.2 million mobile customers, but it was revenue, not customer numbers, that mattered most when it came to tracking its progress.

On Friday afternoon, Spark's share price was down 2 cents to $3.42.

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