Friday, 19 August 2022 09:44

TPG Telecom posts small rise in revenue, profit for HY22 Featured

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Iñaki Berroeta: "Our strong competitive offering has driven growth in our mobile and fixed wireless subscriber base." Iñaki Berroeta: "Our strong competitive offering has driven growth in our mobile and fixed wireless subscriber base." Supplied

Australia's third big telco, TPG Telecom, has reported a small rise in revenue for the first six months of 2022, with service revenue coming in at $2.19 billion a rise of 0.7% year-on-year.

The company, formed through a merger of TPG and Vodafone, said in a statement on Friday net profit after tax had increased to $167 million from $78 million in the preceding year.

Average revenue per mobile user was up 1% to $31.8 per month while post-paid mobile ARPU was $42.0 per month an increase of 2.2%.

Chief executive and managing director Iñaki Berroeta said: “Our strong competitive offering has driven growth in our mobile and fixed wireless subscriber base, positioning us to deliver improved performance as we complete our transition to a growth footing into the second half.”

TPG Telecom is in the midst of trying to finalise a network-sharing arrangement with Telstra in regional areas. The move has met with resistance from other players in the telecommunications sector.

A decision on this arrangement is expected from the Australian Competition and Consumer Commission on 2 December.

"This proposed network sharing deal is a game-changer for TPG and will bring more choice for customers who value coverage in regional Australia,” Berroeta said.

“The arrangement will allow TPG’s more than five million mobile customers faster access to regional 5G services than would otherwise be achievable.”

Berroeta claimed the company's commitment to competition and choice was resonating with customers who continued to join its award-winning mobile brands.

“As the market for international visitors continues to recover, we expect positive momentum to continue and look forward to welcoming more customers to our popular family of brands in the future," he added.

The company ended the half-year with 5.16 million mobile customers, up 2.7 per cent on December 2021. It added 33,000 net subscribers in fixed wireless broadband services and hopes to attain its full-year target of 160,000 fixed wireless subscribers.

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Sam Varghese

Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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