Chorus (ASX:CNU) reports $1 mil lower in FY21 earnings

Company News

by Lauren Evans

NZ telecommunications company Chorus (ASX:CNU) confirmed earnings before interest, tax, depreciation and amortisation of $649 million for the year ending 30 Jun 2021, compared to $648 million in FY20. 

Over the year, fibre uptake grew from 60 to 65 per cent, with 120,000 new fibre connections across 100 or so broadband retailers. Demand for reliable, high-capacity broadband was evident, with gigabit connections growing from 16 to 19 per cent of Chorus' fibre connections.

Net profit after tax was $47 million, compared to $52 million in the previous year. 

Operating revenue for the period was $947 million, compared to $959 million in FY20. Total dividend for FY21 was 25 cents per share.

Average monthly household data usage, over copper and fibre and including both downloads and uploads, grew from 350GB to 432GB across the year. 

Shares in Chorus (ASX:CNU) are trading 3.4 per cent lower at $6.61. 

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