Economy

TPG adds 72000 subscribers, surpasses $400m profits

TPG adds 72000 subscribers, surpasses $400m profits”

In more good news for TPG, its revenue strengthened over the 2017 financial year, and lifted nearly 4 per cent on FY16 to $2.5 billion. Its net profit after tax was $413.8 million. These included an extra 3 weeks' contribution from the iiNet business compared to FY 2016, organic growth from NBN and FTTB subscriber growth, and the continued realisation of financial benefits from its iiNet integration activities.

Underlying EBITDA for 2017 increased 8% to $835 million, or $5 million above the top end of the $820 million to $830 million guidance range and the $831 million consensus.

The company reported that corporate data and internet revenue took a $4 million hit when the retail fibre to the building subscribers of a wholesale customer were acquired by the consumer segment near the end of the first half of the year.

The corporate segment brought in revenue of $743 million for FY17, up 2 percent from FY16's $726 million. The consumer segment generated $523 million in EBITDA.

The fixed-line headwinds come as the telco also reveals that it has made strong progress in the implementation of its mobile network rollouts in both Singapore and Australia - a relatively new development for the company, which has traditionally been focused on the fixed-line market.

"The board is confident that this course will prove in the long run to be the right decision for shareholders", executive chairman David Teoh said.

As a result, the company's final dividend has been reduced to 2 cents per share from 7.5 cents. It had said in March, when announcing its half-year earnings, that it is predicting to spend between S$200 million and S$300 million for the rollout of its mobile network here.

"In Australia, where the initial network implementation is concentrated on the country's most densely populated areas, the group has already entered into agreements with multiple partners to gain access to a large volume of sites to provide coverage of major metropolitan areas".

For its Australian mobile network, TPG said it planned to deploy dense "initial clusters" of small cells in Sydney, Melbourne and Canberra by mid-2018.

TPG has grown its group NBN subscriber base to 561,000 but continues to face downward pressure on its NBN margins, leading the telco to look to mobile for future revenue growth.



Like this

Latest


19 September 2017
American Airlines Group, Inc. (AAL) Stake Lifted by ProShare Advisors LLC
Ltd. now owns 25,865 shares of the airline's stock worth $1,094,000 after purchasing an additional 2,032 shares during the period. This works out to a net decrease in ownership of 8962 shares, and suggests that institutions are feeling bearish about the stock.

19 September 2017
Dollar hits 8-week high
Talk of monetary tightening and a bounce in the dollar put gold on the defensive. Bank of England governor Mark Carney will be speaking later on Monday.

19 September 2017
Trump can't keep alienating the GOP
I do not necessarily agree with everything that Congress and the president do, but this tax relief package needs to be passed. Those who can not see this burden are living with blinders on or are blissfully unaware of the plight of the middle class.

19 September 2017
Royal Bank of Scotland Group plc 1.4% Potential Decrease Indicated by HSBC
Currently, the stock carries a price to earnings ratio of 0, a price to book ratio of 0.63, and a price to sales ratio of 2.82. Royal Bank of Scotland Group The PLC has recorded a 50-day average of 253.56GBX and a two hundred day average of 250.53GBX.

19 September 2017
Analysts See $1.73 EPS for Honeywell International Inc. (HON)
Zacks Investment Research cut Honeywell International from a "buy" rating to a "hold" rating in a research note on Monday. Usca Ria Limited owns 0.16% invested in Bank of America Corp (NYSE:BAC) for 46,250 shares. (NYSE:HON) for 37,555 shares.

19 September 2017
IPhone 8 vs. iPhone X: What you should know before buying
" iPhone X is a premium-priced smartphone which for the first time goes over the $1,000 threshold for the top 256GB model". The smartphone features Apple's highest resolution phone display: 2436 x 1125 pixels at 458 pixels per inch density (ppi).

19 September 2017
The Ontario Government Is Introducing Tougher Penalties For Drug-Impaired Young Drivers
The province announced plans earlier this month to sell marijuana at approximately 150 stand-alone stores run by the LCBO . With marijuana legalization in the works for next July, it's no surprise that the province is laying some groundwork.

19 September 2017
Experts Watch-list Companies: Banc of California, Inc. (BANC), Gigamon Inc. (GIMO)
Currently, 37.97 million total shares are owned by the public and among those 34.15 million shares have been available to trade. The short sellers will then buy the stock back at a much lower price and replace the borrowed shares, pocketing the difference.

19 September 2017
Brooklyn Beckham shares snap of him chilling with Chloe Grace Moretz
Brooklyn took to Instagram to share a photo of himself and what is presumably Chloe chilling out and watching a movie. So much so, that the teenager has admitted he's had to tell a few at his new NY photography school to "chill".

19 September 2017
Body of missing hiker found in High Peaks Wilderness
Forest Rangers, state police and many other search and rescue teams have been searching the area for Stevens since September 10. Around noon Monday, searchers made a sad discovery - the body of a New Jersey hiker who had been missing for 16 days.



Recommended