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- Release Date: 23/05/12 10:39
- Summary: FORECAST: CNU: Chorus issues capex guidance for FY12 and FY13
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CNU
23/05/2012 08:39
FORECAST
REL: 0839 HRS Chorus Limited (NS)
FORECAST: CNU: Chorus issues capex guidance for FY12 and FY13
STOCK EXCHANGE ANNOUNCEMENT
23 May 2012
Chorus issues capex guidance for FY12 and FY13
Chorus (CNU) today issues guidance for its capital expenditure programmes for
FY12 and FY13. At a briefing to institutional investors this morning, Chorus
CEO Mark Ratcliffe and other Chorus executives will outline the company's
early progress towards achieving its business objectives.
"We're delivering on our short term goals, including the establishment of
Chorus and we're on track to lay fibre past about 50,000 schools, homes and
businesses by the end of July.
"Our focus now shifts to our longer term objectives. We are working closely
with our customers to help them transition to a fibre world, while also
building our fibre network and operating our copper network more
efficiently," Ratcliffe said.
Chorus Chief Financial Officer Andrew Carroll will outline details on Chorus'
capex investment for the Ultra Fast Broadband roll-out and the Rural
Broadband Initiative.
"These are massive programmes of investment in New Zealand's network
capability. We expect fibre related capex to account for about 80% of gross
capex spend this year and next," Carroll said.
Chorus gross capex guidance:
FY12 (7 months) $335m to $355m
FY13 $560m to $610m
"Chorus' fibre investment alongside the Government is a real example of a
public private partnership aligned to a common vision for New Zealand," says
Ratcliffe. "The amount being invested underlines the need for certainty, so
the industry can deliver compelling services to enable New Zealanders to
benefit from fibre."
A copy of presentations to be delivered at the briefing are attached. The
briefing will commence at 10:00am (NZ time) and can be viewed via the
investor section of Chorus' website:
http://investors.chorus.co.nz/phoenix.zhtml?c=248160&p=irol-irHome
ENDS
For further information:
Robin Kelly
External Communications Manager
Mobile: +64 (27) 455 5139
Email: [email protected]
Brett Jackson
Investor Relations Manager
Mobile: +64 (27) 488 7808
Email: [email protected]
End CA:00223149 For:CNU Type:FORECAST Time:2012-05-23 08:39:13
