TPG Telecom acquired iiNet in 2015. Photo: Attila Csaszar

TPG profit up on strong iiNet performance

Internet provider TPG Telecom has delivered strong interim financial results - thanks largely to the contribution of its iiNet operations - and has reaffirmed its underlying earnings guidance for the year.

The company posted an 11 per cent rise in net profit to $224 million for the six months ended January 31 on the back of an 8 per cent rise in revenue to $1.24 billion.

First-half underlying earnings rose 13 per cent to $417.6 million, with the company reiterating that it expects to deliver full-year underlying earnings of between $820 million and $830 million.


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I look forward to reading their financials over the next couple of months when iiNet's loyal customers finally jump ship due to random internet cut-outs (I've had 5 in the past 2 weeks, including the complete shut down of my modem because they closed the wrong customer's account) and to the poor service delivered by their over the phone customer "support" team now based in South Africa. It is sad to witness first-hand a strong WA-founded brand drop in quality so much.

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Source: Morningstar

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