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Chorus outage left Golden Bay residents without internet or phone coverage
Tasman District Council said the outage affected 3000 broadband, wifi and voice telephone Chorus customers. A council spokesperson said a fibre cable serving large areas of Golden Bay was cut by mistake during a construction job.
Chorus Full Year 2023 Earnings: EPS Misses Expectations Chorus (NZSE:CNU) Full Year 2023 Results. Earnings per share (EPS) missed analyst estimates by 6.6%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years.
Chorus, Mercury Energy, A2 Milk, Freightways, Steel & Tube financial results at a glance Chorus hiked its full-year dividend to 42.5 cents per share. Fletcher Building and retailers Michael Hill and Hallenstein Glasson Holdings could show signs of a consumption crunch.
Be Wary Of Chorus (NZSE:CNU) And Its Returns On Capital Chorus (NZSE:CNU) has an ROCE of 5.0%. On its own, that's a low figure but it's around the 5.8% average generated by the Telecom industry. It looks like Chorus might be reinvesting for long term growth because while capital employed has increased, the company's sales haven't changed much in the last 12 months. It may take some time before the company starts to see any change in earnings from these investments.
Councillor Julie Fairey not required to disclose newly-revealed shareholdings after Michael Wood resignation - council Auckland councillor Julie Fairey has not disclosed thousands of dollars worth of shares held in a family trust. Her husband, Labour MP Michael Wood, resigned as a minister yesterday after it emerged he held previously undisclosed shares in the trust. The trust held shares in Chorus, Spark and the National Australia Bank (NAB)
Michael Wood’s resignation: MPs, here’s the share trading rules financial firms have to follow Former Minister Michael Wood was forced to resign over not disclosing his holdings in listed companies Chorus and Spark. He also did not sell out of Auckland International Airport.
Michael Wood resigns as minister after further shareholdings revealed Suspended transport minister Michael Wood has resigned as a Cabinet minister. Wood's family trust held shares in Chorus, Spark, and the National Australia Bank that he did not declare. Prime Minister Chris Hipkins says he learnt of Wood's additional undeclared shareholdings on Tuesday.
Third ministerial resignation unwanted distraction for Labour as election looms closer Michael Wood owned 1500 Auckland Airport shares that he bought as a teenager. He did not declare the shares in the MPs’ financial interests list until last year. Wood’s family trust also held shares in Chorus, Spark and the National Australia Bank.
Michael Wood resignation: Opposition crows as minister falls over revelations of more shareholdings Michael Wood resigned today after it emerged he had multiple shareholdings in a trust that he had not adequately disclosed. Wood held further shares in Chorus, Spark and the National Australia Bank. National leader Christopher Luxon has hit out at Prime Minister Chris Hipkins for once again being let down by a senior minister.
Infrastructure Report: Communications restored but not back to normal Chorus staff attempt to restore fibre optic cable to Hawke’s Bay and Gisborne where a bridge was washed away by Cyclone Gabrielle. Voice and data communications links are restored.
Chorus creates rural ‘Frontier’ unit as two veterans exit - and one takes more power Chorus has revealed a restructure that plays to its push for more rural broadband funding from the Government. Chorus has also announced the departure of two senior executives.
Chorus to completely axe copper services within 10 years Chorus says it believes ultrafast broadband should be extended to 95% coverage. A significant number of homes and businesses that do not have access to the fibre-optic ultra fast broadband network are believed to still use copper-based connections. Chorus did not state how many customers it had connected to copper.
Chorus willing to chip in for better rural broadband - if the Govt does too Budget 2023 could reveal funding for a rural fibre extension. Chorus wants UFB fibre expanded to cover 90 per cent of homes. The expansion would bring another 75,000 homes into the fold.
10-week waits for broadband: Chorus says sorry, and it’s 200 staff short Chorus chief executive JB Rousselot told the Herald "It’s a huge relief that the Government is now helping,” with an expanded Green List. But unlike key healthcare roles, the telco sector had to wait four months to be added to the expanded fast-track immigration scheme. Chorus says customers in some areas are waiting up to 10 weeks for UFB fibre.
$35k quote to install fibre at North Shore property Mike Birmingham was told to approach his internet service provider, 2degrees, for information on how to have his property connected to fibre. He was then told that Chorus estimated the cost of the connection at $35,000-plus. Other people had told Birmingham of being quoted more than $100,000 for installation.
$35k quote to install fibre at North Shore property Mike Birmingham was told to approach his internet service provider, 2degrees, for information on how to have his property connected to fibre. He was then told that Chorus estimated the cost of the connection at $35,000-plus. Other people had told Birmingham of being quoted more than $100,000.
Road cone war: Auckland Mayor Wayne Brown seeks to slash $145m spend on AT traffic management Auckland Mayor Wayne Brown has called on his own council organisation, Auckland Transport, to reduce its $145 million spend on road cones and traffic management. Brown has spoken to AT and utility and energy companies Chorus, Vector and Watercare about a four-step approach.
Chorus expects floods to cost it less than $20m, before insurance Chorus is short of 220 technicians but expects the shortfall to drop to 70 by May, now the Government has eased immigration settings. The company reported a net profit of $9m for the six months to the end of December. But its operating profit rose by $10m to $342m from its “underlying” operating profit in the same period last year.
Chorus earnings steady despite profit slump Despite a drop in profits, Chorus has announced an unimputed interim dividend of 17 cents per share for the first half of the 2023 financial year. The internet infrastructure provider’s net profit for the period plummeted by 79 per cent from $42 million to $9m compared with the same period in the previous year. In December 2022, the fibre rollout programme was completed with fibre reaching 87 per cent of NZ's population.
Cyclone Gabrielle: Chorus repairs cable to Gisborne, but digger cuts it again Chorus says it finally fixed the four known cuts on the northern fibre cable into Gisborne on Saturday evening. Only for a roadworks crew working on slips to introduce three new cuts. There is now still no estimated time for landline service - including 111 emergency calls - to be restored.
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