TPG raises earnings forecast

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TPG raises earnings forecast

Stronger than expected growth in past four months.

TPG Telecom has upgraded its guidance for the 2010-11 financial year, now expecting earnings to be as high as $225 million.

The company said today that its new guidance for earnings before interest, tax, depreciation and amortisation (EBITDA) would be $215 million to $225 million, considerably higher than the previous $210 million to $216 million range.

The ISP reported growth across its businesses in the four months to November 2010.

It added 28,000 on-net broadband subscribers, 27,000 TPG home phone and 11,000 mobile subscribers in the past four months.

The ISP also said it was "positioned strongly to compete in an NBN world".

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