Chorus first-half profit falls as depreciation, interests costs mount

Sun, 24 Feb 2019

By Paul McBeth Feb. 25 (BusinessDesk) - Chorus reported a 36 percent decline in first-half profit as it faced rising depreciation costs from the roll-out of its ultrafast broadband network and a heftier interest bill from new debt issued last year. Still, underlying earnings fell 3.3 percent, in line with analyst expectations, as the network operator kept a lid on its operating costs to match a smaller revenue stream from the older copper-line network, as customers migrate to fibre and wireless connections. Net profit fell to $30 mil...

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