23 Feb 2015

Chorus' net profit slumps

11:03 am on 23 February 2015

Chorus' first-half net profit fell 18 percent but the telephone lines company says it is still a solid result.

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Photo: RNZ

The $64 million net profit for the six months ended December came on a 1.5 percent drop in revenue to $527 million.

The chief executive, Mark Ratcliffe, said the result was underpinned by stable fixed line connections, continuing broadband growth and an ongoing focus on initiatives to cope with regulated price cuts.

Chorus' total lines rose by 5000 to nearly 1.8 million in the six months, with fibre connections jumping 55 percent to 65,000.

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