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The Bastion of Belmont
TPG Telecom has upgraded guidance and says margins are improving after the telco reported a double-digit lift in first half net profit and revenue. Net profit for the six months to January 31, 2011 came in at $33.8 million, up 23 per cent from the prior corresponding period.
Revenue was 15 per cent higher at $277.97 million.
TPG executive chairman David Teoh said the result was due to strong organic subscriber growth and improved margins across the business.
A first full half year contribution from PIPE Networks of $26 million also supported the lift in earnings, he said.
TPG added 27,000 broadband subscribers for the half year, Mr Teoh said.
In terms of the outlook, TPG said it expected earnings before interest, tax, depreciation and amortisation (EBITDA) for fiscal 2011 to print in the vicinity of $225 million and $230 million.
The new guidance was above the previous forecast of between $215 million and $225 million, TPG said.
First half EBITDA came in at $113 million.
TPG said the estimated cost of the Queensland floods on the company was "less than $100,000''.
TPG declared an interim dividend of 2.5 cents per security, fully franked, up from two cents per security in the prior corresponding period.
From:
http://www.heraldsun.com.au/business/tpg-connects-double-digit-profit/story-e6frfh4f-1226025931469
Revenue was 15 per cent higher at $277.97 million.
TPG executive chairman David Teoh said the result was due to strong organic subscriber growth and improved margins across the business.
A first full half year contribution from PIPE Networks of $26 million also supported the lift in earnings, he said.
TPG added 27,000 broadband subscribers for the half year, Mr Teoh said.
In terms of the outlook, TPG said it expected earnings before interest, tax, depreciation and amortisation (EBITDA) for fiscal 2011 to print in the vicinity of $225 million and $230 million.
The new guidance was above the previous forecast of between $215 million and $225 million, TPG said.
First half EBITDA came in at $113 million.
TPG said the estimated cost of the Queensland floods on the company was "less than $100,000''.
TPG declared an interim dividend of 2.5 cents per security, fully franked, up from two cents per security in the prior corresponding period.
From:
http://www.heraldsun.com.au/business/tpg-connects-double-digit-profit/story-e6frfh4f-1226025931469
