TPG Telecom, reporting its first half year since the $1.56 billion takeover of iiNet, has increased profit by 90% to $202.5 million.
The result for the six months to the end of January was achieved on revenue of $1.153 billion, up 84%.
A short time ago, its shares were up almost 6% to $10.96.
iiNet contributed EBITDA (earnings before interest, taxes, depreciation and amortisation) of $107.1 million for the five and a quarter months post acquisition. iiNet reported $97 million underlying earnings for the same half in 2015.
iiNet had 989,000 broadband subscribers at the end of January with 34,000 NBN growth.
TPG Telecom, Australiaâ€™s second largest fixed line internet provider, now has about 1.7 million customers and revenue of $2.3 billion with the addition of iiNet.
The company declared a 27% increase in the interim dividend to 7 cents a share.
Here’s how iiNet has increased earnings at TPG: