Chorus 1H profit falls 7.1 percent, won’t pay dividend as auditor notes regulatory risks

Sun, 23 Feb 2014

By Paul McBeth Feb. 24 (BusinessDesk) - Chorus, the telecommunications network operator, reported a 7.1 percent decline in first-half profit and won’t pay an interim dividend in response to regulated price cuts that its auditor flags as “a significant uncertainty.” Net profit fell to $78 million, or 17 cents per share, in the six months ended Dec. 31, from $84 million, or 21 cents, a year earlier, the Wellington-based company said in a statement. First NZ Capital was predicting a profit of $80.5 million. Earnings before interest, tax, depre...

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