Australia Markets closed

TPG's first-half net profit jumps 11%

 

Internet provider TPG Telecom has posted a 11 per cent rise in first-half net profit and reaffirmed its annual underlying earnings guidance.

TPG booked a net profit of $224 million for the six months ended January 31 from $202.5 million from the same period a year earlier on the back of an eight per cent rise in revenue to $1.24 billion.

Australia's second biggest fixed-line internet provider after Telstra reiterated on Tuesday that it expects to deliver underlying earnings of between $820 to $830 million for 2016-17.