Chorus has announced a return to profitability for the year ended June 30, driven by growth in its fibre business which has successfully counteracted the decline in revenue from legacy copper services. The telecommunications infrastructure company builds and maintains the fibre and copper networks throughout New Zealand. Its open access network connects homes and businesses to phone and internet services.
Net profit after tax reached $NZ4 million, a notable improvement from the $NZ9 million loss reported in FY24. Operating revenue saw a slight increase, climbing to $NZ1.014 billion from $NZ1.010 billion in the previous financial year. A key factor in this revenue growth was the 7 per cent rise in fibre revenue, highlighting the company’s successful transition towards next-generation connectivity.
The Chorus board has declared a final dividend of NZ34.5¢ per share. This brings the total dividend payout for the year to NZ57.5¢ per share, marking a substantial 21 per cent increase compared to the FY24 dividend distribution, rewarding shareholders following the company’s improved financial performance.
