Chorus full-year profit growth stalls on lower regulated prices; Ratcliffe to step down

Sun, 28 Aug 2016

By Jonathan Underhill Aug. 29 (BusinessDesk) - Chorus, the telecommunications network operator, said lower regulated pricing for access to its copper services were to blame for full-year profit stalling, although it sees a resumption of growth in 2017. It separately announced that chief executive Mark Ratcliffe will step down in the middle of next year. Profit was $91 million in the 12 months ended June 30, unchanged from a year earlier, the Wellington-based company said in a statement. Operating revenue barely budged at $1.008 billion fr...

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