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

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA

Reseller News has honoured the leading female front runners of the New Zealand ICT industry at the 2019 Women in ICT Awards (WIICTA) in Auckland. The awards recognised standout individuals across six categories, spanning Entrepreneur, Rising Star, Shining Star, Community, Technical and Achievement. Photos by Gino Demeer.

Leading female front runners of the Kiwi ICT industry honoured at 2019 WIICTA
Reseller News kicks off awards season in 2019 with Judges' Lunch

Reseller News kicks off awards season in 2019 with Judges' Lunch

The 2019 Reseller News Innovation Awards has kicked off with the Judges Lunch in Auckland with 70 judges in the voting panel. The awards will reflect the changing dynamics of the channel, recognising excellence across customer value and innovation - spanning start-ups, partners, distributors and vendors. Photos by Christine Wong.

Reseller News kicks off awards season in 2019 with Judges' Lunch
Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomes industry figures for 2019 Hall of Fame lunch

Reseller News welcomed 2018 inductees - Chris Simpson, Kendra Ross and Phill Patton - to the third running of the Reseller News Hall of Fame lunch, held at the French Cafe in Auckland. The inductees discussed the changing landscape of the technology industry in New Zealand, while outlining ways to attract a new breed of players to the ecosystem. Photos by Gino Demeer.

Reseller News welcomes industry figures for 2019 Hall of Fame lunch
Show Comments