New Zealand telco Chorus reaffirms full-year guidance
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The news: Chorus shares gained on the ASX after the New Zealand telco reaffirmed its full-year guidance.
The numbers: Shares were up 1% to $8.20 by 10:45am AEDT, having climbed around 15% over the last 12 months.
The Wellington-based company reconfirmed full-year EBITDA guidance of between NZD700 million ($636 million) and NZD720 million.
It also reaffirmed its dividend guidance of 57.5 cents per share, unimputed.
The context: Ahead of its investor day this afternoon, Chorus reiterated its strategy to shift to a "simpler, more efficient and more competitive all-fibre operator".
The company plans to move to become "all-fibre business" by 2030, including retiring its legacy copper network and driving fibre uptake to 80%, equivalent to 240,000 fibre connections, over the next six years.
The source: ASX announcement
