Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Chorus amends broadband connections, growth trimmed to 1%

Chorus says it miscounted broadband connections, growth rate trimmed to 1% from 2%

By Suze Metherell

Feb. 12 (BusinessDesk) – Chorus, the telecommunications operator spun out of Telecom in 2011, has revised its broadband connection numbers for the third quarter, reporting a 1 percent rise rather than a 2 percent gain earlier reported.

Total broadband connections increased to 1.124 million at Sept. 30, from 1.112 million at June 30, the Wellington-based company said in a statement of the revised figures. It previously reported connections of 1.135 million.

The company said the error “stemmed from a data process change post 30 June”, which saw an extra 11,000 added to the total number of its basic unbundled bitstream access connections. The revised figure stood at 268,000, down 19 percent on the previous quarter.

Chorus will next report connection numbers at its half year results on Feb. 24. Its stock was last at $1.52 and is down 50 percent in the past 12 months.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

Global economic growth has increased and become more broad-based. However, major challenges remain with on-going surplus capacity and extensive political uncertainty... More>>

Kaikōura Earthquake: Private Insurers Receive $1.8b Claims

Insurance Council Chief Executive Tim Grafton said most is for commercial loss at $1.36 billion, with residential claims amounting to over $460 million. “...We have a high level of confidence that most people will have received settlement offers by the end of this year." More>>

ALSO:

Forms And Data: New Proposals To Simplify Personal Income Tax

The Government is proposing to make tax simpler for individuals, with people whose only income is from a salary, wages or investments no longer being required to file tax returns to receive tax refunds or to calculate any additional tax. More>>