TPG profits soar on back of ADSL, mobile growth

ISP reports significant growth in mobile customers

Internet service provider TPG today reported accelerated growth among its mobile subscribers, adding 48,000 mobile customers in the six months to January 31. The new mobile subscribers represent close to 16 per cent of the company's entire mobile subscriber base of 303,000.

Overall the ISP reported net profit after tax of $78.3 million, an increase of 41 per cent over the same six month period last year.

TPG's directors upgraded its earnings before interest, tax, depreciation and amortisation for FY13 to $285-$290 million, up from $263-$273 million.

In a report issued to investors, the ISP also revealed it added 66,000 customers on ADSL2+ and home phone bundles.

In net terms, TPG's consumer broadband customer base grew by 36,000 in the six months.

The company's consumer division reported the greatest growth in revenue compared to the same period last year, with its corporate division's revenue remaining similar to 1H12.

The ISP said that fulfilling its contract with Vodafone Hutchison Australia to roll out dark fibre in New South Wales, Victoria and Queensland had added 766km to its fibre footprint, bringing its footprint to a total of more than 3800km.

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