TPG Reports Record Profit Customer Base Soars

TPG Telecom the Company that snared iiNet to become the second largest telco in Australia has reported a 90% jump in profits to $202.5 million for the six months ending January 2016.

The Company has also increased their customer base by 32,000

with their total base now sitting at 853,000.

 Currently the Company is offering a fast NBN Broadband deal

to business customers for $439 a month. 

 Credit Suisse was forecasting TPG would report profits of

$148.6 million and earnings before interest, taxation, depreciation and

amortisation of $361.6 million during the period.

 Recently experienced equipment issues after its submarine

cable linking Australia to Guam, PPC-1, suffered an outage in February.

 Customers at its subsidiaries, Internode and iiNet, also

suffered problems after the Basslink cable linking Tasmania to the mainland

underwent maintenance resulting in drastically-slowed internet speeds.