iiNet purchase helps TPG boost 1H16 profit by 90%

AustraliaTelecom Asia — Australian fixed-line operator TPG Telecom has reported a 90% surge in net profit for the half year ended in January, thanks largely to gains associated with its acquisition of rival iiNet. Profit for the period grew to A$202.4 million ($153.2 million). TPG’s bottom line was lifted by a A$73.1 million gain on the group’s previously held stake in iiNet, as well as an A$9.7 million profit from a disposal on part of its stake in fiber network operator Vocus Communications.

http://www.telecomasia.net/content/iinet-purchase-helps-tpg-boost-1h16-profit-90

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