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.

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