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NBN half-yearly results reveal massive revenue increase and on-track installations

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NBN Co has released positive half-yearly results which are showing increased revenue and a steady deployment which has now passed 7.1 million premises which are now ready for service.

It has doubled its first half revenue to $891 million thanks to good results after meeting construction and financial targets.

At the end of 2017, NBN Co declared there were 6.1 million premises declared ready to connect with 7.1 million ready for service.

Activations in this period grew with more than 940,000 new premises signing up to services over the NBN access network.

And with the additional activations, revenue also increased by 121 per cent from $403 million at 31 December 2016 to $891 million as of December 31, 2017.

Other highlights in the half yearly results were impressive results from the first fibre to the curb (FTTC) customer trials as well as the release of new satellite broadband packages and the increase in the Sky Muster data limits.

“In the six months, we’ve delivered on some of our most ambitious targets that bring us closer to our 2020 goals,” NBN Co Bill Morrow said.

“As at 31 December 2017, more than 95 per cent of households and businesses are in design, construction or are already able to order a service over the NBN access network.

“While that is success we can be proud of, we’ve demonstrated that we won’t pursue those objectives single-mindedly at the expense of customer experience.

“We have shown our ability to deliver on the build side. We are applying that same focus to ensuring we work with industry to deliver a better internet experience for all Australians.”

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NBN Co also signed a new wholesale broadband agreement with retaIl service providers to improve wholesale service quality.

NBN has also launched a number of initiatives to improve the customer experience including discounts to its top tier wholesale access plans to help retailers meet the needs and expectations of users.

And the good news is there is already less congestion on the network and increased take up off the 50/20 Mbps speed tier.

But in November 2017, NBN Co suspended all activations on the HFC network to conduct upgrades where needed.

That suspension will be in place until all the fieldwork and testing is completed.

NBN Co says it is still on track to complete the initial build by 2020.