Chorus annual profit climbs 24% as cost-cutting drive takes effect

Sun, 27 Aug 2017

By Paul McBeth Aug. 28 (BusinessDesk) - Chorus lifted annual profit 24 percent after cutting costs and changing the way it capitalises some labour costs, making up for a decline in connection numbers that's been driven by the network operator's biggest customer, Spark New Zealand. Net profit rose to $113 million, or 23 cents per share, in the 12 months ended June 30, from $91 million, or 19 cents, a year earlier, the Wellington-based company said in a statement. Revenue edged up 3 percent to $1.04 billion as the network operator benefited...

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