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

Chorus [NZX: CNU], 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)

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