The Australian national broadband network builder NBN Co has exceeded its connection targets for the financial year 2019, connecting more than 1.1 million premises in the three months to 27 June.
The Australian Labor Party's obsession with neo-liberal economics has doomed the national broadband network right from the time it set up a separate company, NBN Co, in 2009 to build a country-wide network that would be unfit for purpose. Thursday's patchwork approach by NBN Co to filling up the cracks is just the latest indication of this.
The NBN Co has quietly released its third-quarter results for the 2018-19 financial year, showing a growth of 45% in revenue to $2.0 billion year-on-year, but still continuing to bleed red ink with a loss of $2.7 billion for the financial year so far. This takes the accumulated losses to $20.7 billion over the lifespan of the company.
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Good man :)
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