Sharechat Logo

Chorus Limited (NZX: CNU) Annual Shareholders Meeting

Friday 6th November 2020

Text too small?

Chair’s Address at Annual Shareholders Meeting

Despite the operational restrictions and financial impact of COVID-19, we achieved our goal of modest EBITDA growth.

For the year ended 30 June, Chorus delivered EBITDA of $648m, delivering net profit of $52m. Operating revenue was down slightly, from $970m in the prior year to $959m. This reduction was more than offset by a reduction in operating expenses from $334m to $311m. We continue to place huge emphasis on cost management and efficiency, particularly as our major build programme starts to taper down. It is not easy, and invariably impacts people on a personal basis as numbers fall.

Credit is due to JB and his team for their relentless focus on this. This enabled payment of fully imputed dividends of 24cps over the course of the financial year. The board anticipates this increasing to 25cps in the current financial year, subject to no material worsening of the operating or regulatory environment.

See the links below for more details:

Chorus ASM cover note

Chorus ASM - Chair Speech

Chorus ASM - CEO Speech

Chorus ASM presentation

Source: Chorus Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

IPO Offer: New Zealand Rural Land Co
Infratil Limited 6-year Infrastructure Bonds
Westpac Banking Corporation (NZX: WBC) Sells General Insurance Business to Allianz and Enters 20 Year Distribution Agreement
NZX Limited (NZX: NZX) Investor Day and Earnings Guidance Update
Synlait Milk Limited (NZX: SML) Sustainability Report Shows GHG Emissions Improvements
IPO Offer: New Zealand Rural Land Co
Infratil Limited 6-year Infrastructure Bonds
Allied Farmers Limited (NZX: ALF) Launch of Renounceable Rights Issue
NZ Windfarms Limited (NZX: NWF) VVFPA Document Completion and FY2021 EBITDAF Guidance Range
Property for Industry Limited (NZX: PFI) Signals Positive Valuation Outcome

IRG See IRG research reports