Chorus customer losses weigh on earnings

Mon, 22 Feb 2021

Chorus earnings fell 2.7% in the first half, in line with analysts’ expectations, as it lost copper customers in rival fibre catchments and to wireless competitors.Earnings before interest, tax, depreciation and amortisation fell to $323 million in the six months ended Dec 31 from $332m a year earlier. Chorus affirmed guidance for annual ebitda of $640m-to-$660m, tracking towards the lower half.Revenue slipped 2.1% to $473m as declining customer numbers using its copper services outweighed gains in fibre. Net profit dropped 22.6% to $24m....

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