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TPG: Revenue Rises, Profits Plummet

TPG weathered a rocky six-month period to the end of December, with pandemic disruption and increased CVC costs wiping out an impressive leap in revenue.

Revenue jumped 22 per cent, to $5.3 billion, while EBITDA rose 24 per cent, to $1.7 billion.

Profits, however, fell 85 per cent, to just $110 million.

“As market headwinds begin to ease, we enter the year ahead with confidence,” said Iñaki Berroeta, chief executive.

“The re-opening of Australian borders will support the return of positive momentum in Consumer mobile numbers, and we expect great enthusiasm from customers for the products and services we can offer.”

TPG this week announced a ten-year infrastructure sharing deal with Telstra, which will see the telco substantially increase its rural and region coverage.

The company will pay an interim dividend of 8.5c per share, up from 8c a year ago.

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