Menu
Chorus profit slips but UFB on track

Chorus profit slips but UFB on track

Infrastructure company records NPAT of $78m

Broadband infrastructure company, Chorus, recorded a net profit after tax (NPAT) of $78 million in the first half of the 2014 fiscal year, down from $84m in the previous corresponding period.

Earnings before interest, tax, depreciation and amortisation (EBITDA) also slipped to $329 in the six months ended December 31, down from last year’s $331m.

Total revenue is calculated at $535m, most of which, unsurprisingly, came from basic copper services ($279m).

Commenting on the results, Chorus chief executive officer (CEO), Mark Ratcliffe, said, “We are getting on with managing our costs and revenues without reliance on any regulatory outcomes.”

“The reality of our situation is that like all of the telecommunications industry, we are adapting our business to significantly lower revenues.”

RELATED: Telecom to rebrand as profit falls

Chorus said it is on track with its Ultra-Fast Broadband (UFB) rollout, having completed 24 per cent; 199,000 premises have been passed, putting 259,000 end users in reach of UFB. The Rural Broadband Initiative (RBI) now extends to 61,700 lines.

Total fibre connections amount to 27,000. Cost per premises passed is in line with 2014 financial year guidance of $2900 to $3200.

“Chorus has spent more than $1.1 billion on fibre networks and capability in the two years since the demerger,” Ratcliffe said. “Both the UFB and RBI are comfortably on track.”


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags broadbandTelcoTelecommunicationsRBIfibrefinancialsRural Broadband InitiativeUFBChorusultra-fast broadband

Featured

Slideshows

Malwarebytes shoots the breeze with channel, prospects

Malwarebytes shoots the breeze with channel, prospects

A Kumeu, Auckland, winery was the venue for a Malwarebytes event for partner and prospect MSPs - with some straight shooting on the side. The half-day getaway, which featured an archery competition, lunch and wine-tasting aimed at bringing Malwarebytes' local New Zealand and top and prospective MSP partners together to celebrate recent local successes, and discuss the current state of malware in New Zealand. This was also a unique opportunity for local MSPs to learn about how they can get the most out of Malwarebytes' MSP program and offering, as more Kiwi businesses are targeted by malware.

Malwarebytes shoots the breeze with channel, prospects
EDGE 2019: Channel forges new partnerships during evening networking

EDGE 2019: Channel forges new partnerships during evening networking

Partners, vendors and distributors reconnected during a number of social gatherings during EDGE 2019. The first evening saw the channel congregate for a welcome party at the Hamilton Island yacht club, while the main poolside proved to be the perfect stop for a barbecue on the final night.

EDGE 2019: Channel forges new partnerships during evening networking
Show Comments