New Street: NBN Co FY21 (Unlisted) Slower 2H activations and flat ARPU limit revenue uplift
NBN’s activations slowed sharply in 2H21 as migration winds down and ARPU was flat which limited sequential revenue uplift to A$109m, its lowest HY uplift in five years. There were some one-off factors but it is clear that revenue will flatten at a lower level than planned.
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