Chorus full year net profit surges to NZ$37M
- Full-year net profit rose to NZ$37 million, up from NZ$4 million in the previous year, driven by higher fibre usage.
- Total annual revenue reached NZ$1.03 billion, while full-year dividend payments increased to 60 cents per share.
- Growth in artificial intelligence and data centres is expected by management to drive future broad demand for fibre infrastructure.
Telecommunications infrastructure provider Chorus (ASX:CNU) reported a net profit of NZ$37 million for the 12 months ended June as increased customer fibre uptake drove total annual revenue to NZ$1.03 billion.
The full-year earnings result compares against a net profit of NZ$4 million and total revenue of NZ$1.01 billion recorded in the prior corresponding period.
“We are building momentum towards a simpler, more focused business, while continuing to invest in the digital infrastructure New Zealand will rely on for decades,” said Chorus CEO Mark Aue.
The business added approximately 32,000 fibre connections to reach 1,147,000 total active lines, while overall network data usage expanded by 9%.
Management stated that the business forecasts operating earnings to range between NZ$730 million and NZ$760 million for the next financial year alongside a modest dividend increase.
Following the announcement, the Chorus share price was $7.53.
The company declared a FY26 total dividend of 60 NZ cents per share.
Legacy copper line disconnections continued with 48,000 removals during the period, leaving 44,000 remaining active connections nationwide.
The network operator stated it aims to completely retire its legacy copper network earlier than its previous 2028 target timeline.
