TPG reports ‘strong growth’ for latest financial year

24 Sep 2014

Alternative Australian telecoms provider TPG Telecom has reported ‘a sixth consecutive year of strong growth’ having published its financial results for the twelve months ended 31 July 2014.

In the period under review TPG generated a total turnover of AUD970.9 million (USD893 million), up from AUD724.5 million in FY 2013, while reported earnings before tax, depreciation and amortisation (EBITDA) stood at AUD363.7 million, representing a 24% year-on-year increase. Net profit after tax, meanwhile, increased by 15% against the previous fiscal year to AUD171.7 million in FY14. Such results, the company said, had been ‘driven by continued strong organic growth across the Group’s consumer and corporate divisions accompanied by a maiden contribution from AAPT’.

In operational terms, for the end of July 2014 TPG reported a total of 748,000 broadband subscribers, up from 671,000 a year earlier, with the proportion of those served on-net continuing to grow, from 587,000 (or 87.5% of the total) to 676,000 (90.4%). Consumer home phone subscribers reached 477,000, meanwhile, up from 358,000 at end-July 2013, and while mobile accesses were up from 360,000 at that date to 362,000 at the end of the latest reporting period, this was down from a peak of 370,000 at end-January 2014; TPG said that its mobile business was relatively flat year-on-year ‘after new wholesale pricing’.

Australia, TPG Corporation (incl. iiNet, Internode and AAPT)