TPG Telecom FY net grows 64%

Dylan Bushell-Embling
18 Sep 2013

Fast-growing Australian ISP TPG Telecom said its FY13 profit grew 64% to A$149.2 million ($139.6 million), and has announced plans for an unlimited 100 Mbps service over its own fiber.

Excluding the impact of a one-off tax expense incurred in FY12, underlying net profit grew 31%, TPG said in a filing.

Ebitda increased 12% to A$293.1 million, with revenue up 9% to A$724.5 million.

TPG's consumer broadband customer base increased by 76,000 subscribers over the year to 671,000. The company's MVNO operation over the Optus network ended the year with 360,000 mobile subscribers.

Ebitda for the company's corporate operations stayed largely flat at $110.3 million, but underlying earnings for this division increased by over 10%.

TPG has been investing to expand its fixed line infrastructure, including is fiber footprint. The company ended FY13 with over 3,800km of domestic fiber and direct connections to 1,600 buildings.

The company has separately revealed plans to use this fiber footprint to offer an unlimited 100 Mbps FTTB service for A$70 per month – a price that beats the (metered) retail services available on Australia's National Broadband Network (NBN).

TPG plans to start rolling out the service at the end of the year, the Australianreported. The buildout will begin with trials in two Sydney suburbs.

But the service will only provide limited competition to the NBN, as the offering will only cover about 500,000 apartments in suburbs of Sydney, Melbourne, Brisbane, Adelaide, and Perth.

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