|End-of-day quote - 04/08|
TPG Telecom : Records Annual Profit Post Merger
|02/24/2021 | 05:16pm|
By Rhiannon Hoyle
SYDNEY--TPG Telecom Ltd. recorded a net profit in 2020 and said it is optimistic about a continued recovery in the year ahead.
TPG, which last year merged with Vodafone Hutchison Australia, reported a net profit of 741 million Australian dollars (US$586 million) for the 12 months through December. That compared to a loss of A$280 million in 2019.
Directors declared a dividend of 7.5 Australian cents a share.
"Notwithstanding the impact of Covid, especially global travel restrictions, continued NBN [National Broadband Network] headwinds, ongoing mobile competition as well as regulatory challenges, TPG Telecom's results were relatively resilient," the company said.
Write to Rhiannon Hoyle at email@example.com
(END) Dow Jones Newswires