Investor Centre

Over the past few years, there is no doubt that the technology sector has prioritised revenue growth over margin expansion. This was particularly apparent during COVID with incredibly strong top line revenue growth supported by the stimulus surge. To satisfy this demand the tech space went on a hiring spree.

Mobile network operators (MNOs) such as Spark & Vodafone often own valuable infrastructure assets but are not rewarded for owning these assets in their valuations. This has prompted a global trend of MNOs separating their passive mobile infrastructure assets (generally the physical mobile tower and land below the tower) into a tower company (TowerCo) and selling the TowerCo for valuation multiples much higher than those applying to the MNO themselves.

Have you ever asked yourself how much money you’ll need in retirement? New Zealand Superannuation alone may not provide a comfortable or even an adequate retirement income. So, it’s important for everyone to do what they can now to put themselves in a better position for the future.