By Stuart Condie
SYDNEY–TPG Telecom held its final dividend as the Australian telecommunications provider posted a 90% fall in statutory annual profit.
The ASX-listed company on Monday reported a net profit for the 12 months through December of 49 million Australian dollars (US$65.6 million), compared with A$513 million a year earlier, when the bottom line was boosted by the sale of its mobile towers.
Revenue rose by 2% to A$5.53 billion. Earnings before interest, tax, depreciation and amortization slipped by 12% to A$1.875 billion, stripping out items including 2022’s A$402 million accounting gain from the tower sale.
The average analyst forecast was for Ebitda of A$1.92 billion from revenue of A$5.57 billion, according to data compiled by FactSet.
TPG, which was formed in 2020 by the merger of mobile provider Vodafone Hutchison Australia and broadband provider TPG, declared a dividend of A$0.09.
Write to Stuart Condie at stuart.condie@wsj.com
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