NBN Co Revenues Soar 112% To $1.4 Billion
Government backed, NBN Co, has posted a 112% year-on-year lift in total revenues to $1.4 billion [for the nine months to fiscal year March 31st]. The results follow continual progress to improve the end user experience.
Concerning Q3 results, the NBN Co asserts its achieved “solid progress”, notching 6.5 million premises ‘ready to connect’, 7.5 million ‘ready for service’ and 3.7 million ‘active premises’.
An additional 2 million premises are now ‘ready to connect’, compared to the same period last year. Activations increased 1.7 million versus a year ago.
For the nine months to March 31st, average revenue per user hit $44/month.
The NBN Co affirms total revenue growth follows “solid” progress on construction, new activations and customer experience improvements.
Improvements include “optimisation work” on the Hybird Fibre Coaxial network (HFC), plus revised wholesale pricing offers and internal process amendments.
Following continual collaboration with retail service providers, average congestion has dropped from over six hours a week per service to 18 minutes.
The company also claims to have made “strong progress” on its build and activation goals.
The NBN Co affirms it’s “on track” to complete 75% of the build by year end.
Bill Morrow, NBN Co Chief Executive, claims the results demonstrate progress on the company’s top three priorities; “complete the build by 2020, improve the end user experience, and deliver a modest return on the tax payer’s investment.”
“We’ve shown stable performance against our long-term goals on the build side and significant improvements on customer experience,” Morrow adds.
“Our monthly progress report demonstrates that our customer experience program is working, and we know there’s more to do to get this right. The NBN Co team, delivery partners and RSPs are working quickly to make improvements across the industry for a better experience for all.”