Chorus keeps in the black, despite economic squeeze

CEO JB Rousselot said Chorus’ network saw another year of record traffic. (Image: Chorus)

Mon, 21 Aug 2023

Chorus said net profit took a tumble in the year to June 30 but revenue inched higher and it is relatively upbeat about the current financial year. The telecommunications infrastructure company posted revenue of $980 million, a 1.6% increase over the prior financial year.Net profit for the year dropped 61% to $25m with the decrease being attributed to interest rate rises and $15m in accelerated depreciation of copper cables.Reported earnings before interest, taxes, depreciation and amortisation (Ebitda) were $672m versus $675 million in th...

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