Sharechat Logo

Chorus broadband, fibre connections rise in first quarter

Friday 15th April 2016

Text too small?

Chorus, the telecommunications network operator, increased broadband connections 0.4 percent in the March quarter as customers continued to move away from fixed-line services on the copper network to fibre.

Total broadband connections rose to 1.23 million by March 31 from 1.22 million three months earlier, the Wellington-based company said in a statement. Fibre connections jumped 21 percent to 112,000. Chorus was halfway through its fibre rollout by the end of the first quarter with building completed for 435,000 premises out of the targeted 830,900. 

Fibre uptake improved to 22 percent from 19 percent in the December quarter, and Chorus said it was completing an average of 480 fibre connections per weekday, up from 450 in mid-February.

Fixed-line connections shrank 0.8 percent to 1.74 million in the quarter, with Chorus saying the decline was expected as consumers continue to shift to fibre and 'naked' services, where customers have an internet connection without a landline.

The company won the lion's share of the government's programme to build a fibre telecommunications network to 75 percent of the country, a target which has since been extended to 80 percent.

Chorus estimates the fibre network will cost between $1.75 billion and $1.8 billion to build, and forecast capital expenditure of between $580 million and $630 million in 2016.

The shares last traded at $3.99, and have increased 2.1 percent this year.

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report