Home / Business and Economy / Chorus Profit Jumps as Fibre Dominates, Copper Declines
Chorus Profit Jumps as Fibre Dominates, Copper Declines
23 Feb
Summary
- Chorus reported NZD 15 million net profit for H1 2026, a turnaround from a loss.
- Fibre broadband revenue grew 7%, offsetting copper revenue decline.
- Operating expenses reduced by 3% despite inflationary pressures.
Chorus Limited has reported a net profit of NZD 15 million for the first half of fiscal year 2026, a notable turnaround from a NZD 5 million loss in the same period of 2025. The company's strategic focus on fibre broadband has proven effective, with fibre revenues increasing by 7% due to new connections and higher average revenue per user.
This growth in fibre successfully counteracted a significant 43% decline in copper broadband revenues. Chorus also achieved a 3% reduction in operating expenses, demonstrating effective cost discipline amidst inflationary pressures affecting non-tradable costs like rent and electricity. The company maintained its full-year dividend guidance at NZD 0.60 unimputed.
Chorus's CEO highlighted the company's resilience and strategic shift towards fibre, emphasizing operational efficiencies. Despite challenges such as declining copper revenue and inflation, the company is committed to its growth trajectory through targeted investments in technology and infrastructure. The outlook remains positive with continued focus on fibre expansion and product enhancement.
