Chorus Posts Profits Thanks To Fibre Rollout
News: Wholesale telecoms infrastructure firm Chorus has posted FY12/13 net profits of NZD171mn (US$133.6mn), according to Telecom Asia. The profit figure was for the company's first full financial year of operation, which ended in June 2013, since separating from Telecom NZ in 2011. Chorus is currently constructing New Zealand's ultrafast broadband fibre network, of which it has completed 18% and is ahead of schedule on the project. The network covered about 153,000 premises at the end of June 2013, and has rolled out over 3,000km of fibre in the last 12 months. Chorus has invested NZD579mn (US$448.9mn) in the fibre during the financial year, amounting to 85% of the company's gross capital expenditure.