New Zealand-based wholesale fixed line provider Chorus has announced its half-year 2021 financial results, reporting net profit of NZD24 million (US$17.56 million) and EBITDA of NZD323 million for the six months ended 31 December 2020, down from NZD31 million and NZD332 million respectively in the year earlier period. The company attributed the drops to the continued migration of customers from legacy copper services to alternative networks in non-Chorus fiber network areas, as well as weakerdemand for new fiber connections as a result of COVID-19. Operating revenue for the period was NZD10 million lower at NZD473 million and operating expenses remained largely flat at NZD151 million. For the full year, Chorus said its EBITDA guidance remains unchanged at between NZD640 million and NZD660 million (towards the lower end of its previous forecast), while gross CAPEX has been increased to NZD670 million-NZD700 million from the prior range of NZD630 million-NZD670 million.
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