Chorus 1H earnings meet expectations, lifts forecast UFB cost by $300M

Sun, 24 Feb 2013

By Paul McBeth Feb. 25 (BusinessDesk) - Chorus, the telecommunications network operator spun out by Telecom at the end of 2011, met analyst expectations for its first-half earnings, while raising the forecast cost of building a nationwide ultra-fast broadband network by $300 million. Earnings before interest, tax, depreciation and amortisation of $331 million in the six months ended Dec. 31 were in line with the $332.5 million forecast by Forsyth Barr analyst Jeremy Simpson. The Wellington-based company posted a net profit of $84 million, or...

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