TPG grows profit by 65 per cent in six months

TPG grows profit by 65 per cent in six months

ISP now has 567,000 broadband subscribers and is looking to bring out new consumer products such as a set top box and IP surveillance systems.

TPG has increased its net profit after tax (NPAT) to $55.7 million in the first half of its 2012 financial year, up 65 per cent the previous corresponding period.

The ISP’s first half financial year concluded on 31 January 2012.

Revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) both went up by 17 per cent, reaching $324.5 million and $131.9 million respectively.

The positive results were driven by a number of factors, including the exponential growth of broadband, home phone, and mobile subscribers.

TPG has grown its customer base organically. It has bumped up broadband subscribers 19,000. The ISP’s total number of broadband subscribers is now in excess of 567,000.

Many of TPG’s customers are taking up bundle packages and this number has jumped by 49,000 to 156,000. The company’s mobile business is also gaining momentum. TPG currently has 222,000 mobile voice service customers, up by 21,000.

The ISP is gearing up to launch its set top box for TPG IPTV to expand its product offering beyond just core telecommunication services.

Following in iiNet’s footsteps, TPG is now looking into IP surveillance offerings for home and small business use.

TPG’s corporate business, which includes Pipe Networks, has done well and contributed to 44 per cent of the company’s EBITDA in the first half of its 2012 fiscal year.

The ISP is looking into Cloud computing as a growth path for its corporate business.

Another issue TPG wants to focus on is to improve its customer service, which has been a weakness for the company.

More to follow.

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