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Broadband

TPG profit halves in FY19 following cease of mobile network rollout

Friday 6 September 2019 | 09:59 CET | News
Australian operator TPG Telecom saw its net profit halve to AUD 173.8 million for the year ended 30 July 2019, from AUD 396.4 million one year earlier. EBITDA before impairment for the period was AUD 809.4 million. EBITDA was affected by the loss of margin as DSL and home phone customers migrate to low margin NBN services. Earnings per share stood at 18.7 AUD cents. FY results were largely affected by the group's decision to cease the rollout of its Australian mobile network in January 2019, which generated an impairment expense of AUD 236.8 million and a significant increase in amortization

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Categories: Fixed
Companies: TPG
Countries: Australia / Singapore
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