{"id":88468,"date":"1999-12-31T00:20:00","date_gmt":"1999-12-30T13:20:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/were-up-tpg-profit-soar-65\/"},"modified":"1999-12-31T00:20:00","modified_gmt":"1999-12-30T13:20:00","slug":"were-up-tpg-profit-soar-65","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/were-up-tpg-profit-soar-65\/","title":{"rendered":"We’re Up: TPG Profit Soar 65%"},"content":{"rendered":"

Cheap broadband is paying off: TPG are flying high on profits of $55m – up 65%.<\/p>\n\n\n\n
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The ISP announced its first half year financials to 31 January 2012 which saw earnings before tax increase 17% to $131.9m. <\/p>\n

Subscriber growth was driven by the TPG’s fiercely priced  ADLS2+ and home phone bundle plans, which grew by 49,000 subscribers during the six months, it said yesterday. <\/p>\n

However, there was a 23,000 decline in standalone ‘on-net’ services and ‘off-net’ subscribers (7,000), with total net increase of  19,000.<\/p>\n

And its fledgling mobile business launched in September is also showing “momentum” with net growth of 21,000 customers in the 6 months, bringing TPG’s total mobile base to 222,000.<\/p>\n

Cashflow was “very strong” at $76.6m (after tax, interest and capital expenditure), which enabled the acquisition of cloud firm IntraPower for $12.8 million last year and the purchase of “significant” shareholding in iiNet, which it was rumored to be keen to acquire also. <\/p>\n

Net profit after tax was $55.7m, a 65% increase over same time 2011. <\/p>\n

The Group is also “well positioned” to achieve its earnings guidance for the full year of $250m-$260m.<\/p>\n

During the half year the Group created a Corporate division with the corporate, government and wholesale businesses of TPG, Soul, and PIPE, which delivered “excellent” first half results, providing 44% of the Group’s total earnings. <\/p>\n

 <\/div>\n

TPG’s fibre network expansion has also continued over the half with an additional 417km, a 26% increase over 31 July 2011, to a total of 2,264km.<\/p>\n

Earnings per share increased by 61% to 7.1 cents per share. <\/p>\n

In light of the strength of Group earnings, the Board of Directors declared an increase in the interim FY12 dividend by 22% to 2.75 cents per share (fully franked), payable on 22 May to shareholders on the register at 17 April 2012. <\/p>\n","protected":false},"excerpt":{"rendered":"

Cheap broadband is paying off: TPG are flying high on profits of $55m – up 65%.<\/p>\n","protected":false},"author":41,"featured_media":93398,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,25],"tags":[],"class_list":["post-88468","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-archive","category-services","post_format-post-format-gallery"],"yoast_head":"\nWe're Up: TPG Profit Soar 65% - Smart Office<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/were-up-tpg-profit-soar-65\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"We're Up: TPG Profit Soar 65% - Smart Office\" \/>\n<meta property=\"og:description\" content=\"Cheap broadband is paying off: TPG are flying high on profits of $55m - 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