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Internet provider TPG lifts profit 31%

 

TPG Telecom has lifted full-year profit 31 per cent to $224.1 million, after reaping the benefit of the previous year's acquisition of AAPT.

Earnings before interest, tax, depreciation and amortisation for the year to July 31 were up 33 per cent to $484.5 million, driving up net profit from last year's $171.7 million.

The final dividend is a fully franked 6.0 cents, up 1.25 cents.

TPG is Australia's second biggest fixed-line internet provider behind Telstra following this month's $1.6 billion takeover of iiNet, which will be reflected in next year's results for which the company declined to issue guidance.