TPG Telecom shares advanced 4% on Friday after the company reported a 9.4% increase in net profit and declared an interim dividend of 10 cents per share.
The stock rose to A$3.67, outperforming the ASX 200 index, which declined 0.1%. The gain followed the release of TPG Telecom’s half-year results, which highlighted growth in its mobile business and lower financing costs.
Net profit after tax from continuing operations increased to A$35 million from A$32 million in the prior-year period. EBITDA edged up 1% to A$821 million, supported by higher mobile service revenue and improved hardware margins, though total revenue from continuing operations slipped 1% to A$2.425 billion.
The board declared an interim dividend of 10 cents per share, 25% franked, payable on September 29 to shareholders on record as of August 28. Fixed-line broadband subscriber losses persisted, the company noted.
The earnings report underscores TPG Telecom’s focus on mobile growth amid challenges in its fixed-line segment.
