The business announced an $11m net profit – its first since beginning its ultra-fast broadband network project in 2011.

“Large scale infrastructure programmes like ours require several years of investment prior to realising sustained profits and we had forecast becoming profitable in 2021. I am very pleased to announce that we generated a profit two years ahead of this forecast,” said Enable Chief Executive, Steve Fuller.

“This is a significant milestone for our business. It places us on target to begin delivering returns back to the city, and ultimately the people of Christchurch, within the next three years.”

Enable is already generating tremendous value to the Christchurch community through its world-class fibre broadband services, that are being enjoyed by over 100,000 customers across the city and in surrounding towns.

2019 was the first full year of operation since Enable completed its large-scale network deployment programme, below budget and 18 months ahead of schedule. As a comparison to Christchurch, parts of some other main centres are still waiting for fibre broadband to be available.

“We worked extremely hard to complete our network as quickly as possible so the maximum number of people in our community could benefit from our services – to improve their businesses, connect with friends and family, learn online and be entertained,” said Mr Fuller.

“Our community continues to support us to grow and we are extremely appreciative of the demand Christchurch people have shown for our fibre broadband services.”

Over 24,000 new customers made the move to fire broadband in the year - which means nearly 60 percent of the fixed broadband market across Enable’s coverage area is now on fibre broadband.  The business is currently tracking two years ahead of the connection volume predictions set at the outset of Enable’s ultra-fast broadband project.