Chorus Attributes Half Year Profit Drop To Covid Impact On Network Migrations
These were both year-on-year decreases from NZ$31 million and NZ$332 million, respectively, with Chorus attributing the drops to the continued migration of customers from legacy copper services to alternative networks in non-Chorus fibre network areas and fewer people migrating to fibre connections than expected as a result of COVID-19. Operating revenue for the period was NZ$473 million, down from NZ$483 million, while operating expenses essentially remained flat at NZ$150 million....