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Oh, How The Money Rolls: TPG Banks $1.27bn, Up 31pc

Oh, How The Money Rolls: TPG Banks $1.27bn, Up 31pcAcquisition of AAPT from Telecom NZ  helped drive
a full-year profit of $224.1 million, compared to $171.7 million a year ago.
(The results do not reflect the recent $1.6 billion acquisition of Australia’s
iiNet).

Total revenue was up 31 per cent at $1.27 billion for the 12 months to July 31.
Broadband revenue was responsible for almost half of this, up 14 percent at
$554.4 million.

Investors were apparently expecting more. Shares in TPG closed down 48 cents,
or 4.58 percent, at an even $10.  They have ranged between $6.05 and
$10.75 over the past year, and have risen from $8.73 on September 3.

Yesterday’s price gives TPG a market cap of $7.94 billion. (In case you were
wondering, by comparison Telstra has a market cap of more than $70 billion).