Chorus (ASX:CNU) fibre activity and uptake hampered by covid-19 restrictions

Company News

by Katrina Bullock

New Zealand internet services provider Chorus says the COVID-19 lockdown restrictions have had a significant impact on fibre activity and uptake in the 4th quarter.

Total fixed line connections declined by 4,000 to around 1.4 million over the quarter.

Fibre installations dropped by around 15,000.

The company also provided $5 million in financial support to service companies to assist with reduced workflow and revenue, to help them retain their workforce.

Shares in Chorus (ASX:CNU) are trading 10.12 per cent lower at $6.57.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.