TPG boosts mobile, broadband base

TPG grew its mobile subscriber base by 18 percent and broadband subscribers by 6 percent over the past six months.

In its first half of financial year 2013, TPG added 36,000 consumer broadband subscribers, bringing its total base to 631,000.

TPG also added 48,000 mobile subscribers for a total of 303,000 at the half-year’s end on January 31. 

The growth was fuelled by a boost in home phone and ADSL+2 plans, to the tune of 66,000 subscribers, but was offset by a drop in the ISP’s standalone plans, which saw the loss of 23,000 on-net and 7000 off-net subscribers.

Average revenue per consumer broadband user rose to $48.68.

For the six month period, TPG posted a 41 percent profit rise to $78.3 million. EBITDA came in at $153.6 million, a 16 percent jump on the previous corresponding period.

As a result, the company upgraded its full-year earnings forecast to between $285 million and $290 million, from between $263 million and $273 million. 

TPG added 766 kilometres to its domestic fibre network over the six month period, growing its fibre footprint to 3800 kilometres.

It added 151 buildings to its fibre network and completed its construction of backhaul links for Vodafone. 

It told shareholders today it had paid $7.5 million of a $10 million investment for a 15 percent equity interest in a multinational data security business called Cocoon Data Holdings. The business operates across the US and Australia and as a result of the new partnership will develop products for TPG using its security software. 

Earlier this year, TPG agreed to alter terms in its consumer contracts that were deemed by the ACCC to be unfair.

As part of a wider review, the ACCC entered consultations with TPG, Telstra and other unnamed telcos to highlight questionable terms included in consumer contracts. 

It found three of concern within TPG’s consumer contract, including one allowing the ISP to change subscription fees charged to customers without providing notice, one involving the right to suspend or disconnect a customer’s service at any time without notice, and another around limiting consumer guarantees.

TPG agreed to delete the three terms of concern, the ACCC said.