TPG boosts profit 31%
- 22 September, 2015 11:29
TPG has reported net profit after tax of $221.4 million on revenue of $1.27 billion for the year ended 31 July.
The figure represents an increase in NPAT of 31 per cent over FY14.
Earnings before interest, tax, depreciation and amortisation (EBITDA) grew by a third to $484.5 million.
TPG's consumer division delivered EBITDA of $239.7 million, up from $205.6 million for the prior year.
As of the end of FY15, TPG had 821,000 broadband subscribers and 320,000 mobile subscribers.
(Those figures don't include customers with fibre-to-the-basement services, which are sold through TPG subsidiary Wondercom to comply with rules introduced by the government to protect the NBN.)
The telco's corporate division reported EBITDA growth of 52.4 per cent to $242.3 million. A significant portion of that growth is attributable to AAPT, TPG said.
In the telco's previous results only five months of AAPT earnings were included, compared to a full 12 months this time.
It was the set of results from the telco that will not include a contribution from iiNet, TPG's acquisition of which was finalised earlier this month.
The acquisition will make TPG the number two broadband provider in Australia by subscriber numbers with more than 1.7 million broadband customers and combined revenues of $2.3 billion and EBITDA of $654 million.