Chorus flags flat-to-weaker underlying earnings in 2014 after small annual gain this year

Sun, 25 Aug 2013

By Paul McBeth Aug. 26 (BusinessDesk) - Chorus, the telecommunications network operator spun out of Telecom in 2011, expects next year’s earnings will be flat-to-weaker after eking out a small gain in its first full year as a standalone business. Adjusted earnings before interest, tax, depreciation and amortisation rose 1.2 percent to $654 million in the 12 months ended June 30, and it forecasts flat-to-low single-digit decline EBITDA in 2014, the Wellington-based company said in a statement. Annual net profit of $171 million compares to ea...

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