The company reported a modest full-year profit as it accelerated its fibre strategy while switching off copper. Photo: Supplied / Chorus
Telecommunications lines company Chorus is confident it can ramp up new fibre connections despite competition from 4G and 5G fixed wireless.
The company reported a modest full-year profit as it accelerated its fibre strategy while switching off copper.
Key numbers for the 12 months ended June compared with a year ago:
- Net profit $4m vs $-9m
- Revenue $1014m vs $1010m
- Operating earnings $705m vs $700m
- FY dividend 57.5 cents per share vs 47.5 c
The company's revenue edged up from $1010 million to $1014m. The growth in fibre was offset by a $39m decline in copper revenue.
Chorus added 31,000 more fibre connections in the past financial year to a total of 1,115,000.
Chief executive Mark Aue said the company was confident it could outshine 4G and 5G wireless broadband.
"We're comfortable with the superiority of fibre as a technology," Mark Aue said.
"Too often they get compared as though they're apples for apples. With everything that we see on Monday and where this market is evolving to and where consumer behaviour is evolving to - actually this will play into fibre's strength."
The uptake of artificial intelligence will increase demand for fibre, he said, and customers will be satisfied paying "a little bit more, for a lot more".
"Fibre networks are crucial in an AI-driven world where ultra-fast low latency speed matters, where reliability counts and when massive data transfers are the norm."
Chorus has added a recent speed boost for two of its plans.
Last week the Commerce Commission recommended the removal of the copper network's access regulation.
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