NBN REVENUE SURGES AS ROLLOUT PICKS UP SPEED
NBN Co has more than doubled full-year revenue as connections to the national broadband network accelerate but the company acknowledges it must do more to address discontent among consumers.
With 2.4 million homes and businesses now running an active NBN service through a retail service provider such as Telstra or Optus, up from 1.1 million last year, NBN Co yesterday said full-year revenue has spiked 138 per cent to $1 billion in the year to June 30.
During the financial year 2.8 million premises were connected to the national broadband network, bringing the total number of NBN-ready Australian premises to 5.7 million.
While the NBN Co passed the “halfway-built” mark and grew its national footprint by 122 per cent, chief executive officer Bill Morrow acknowledged that public confusion around NBN activation, speed and pricing continues to impede the use of the national broadband service.
“We know that the No.1 issue is: “When am I going to get the NBN service?” Mr Morrow said.
Mr Morrow said the company’s 2020 targets remain in place, with a completed build connecting eight million homes driving $8 billion in annual revenue. The chief executive said the company believes it is addressing that concern, with construction volumes for the period hitting a peak of 140,000 homes made ready for service within a single week.
Total expenses also grew on the back of an expanding workforce, direct network and subscriber costs, up 71 per cent to $3.4 billion.