Internet telco TPG just posted a huge profit jump and is now concentrating on its iiNet takeover

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TPG Telecom, which is creating Australia’s second largest fixed line internet provider, has posted a strong rise in profit, its seventh year of growth in a row.

However, it’s not providing guidance for 2016 because it will be integrating the iiNet business after a $1.56 billion takeover completed on September 7.

Profit for the full year was up 31% to $224.1 million on a 31% rise in revenue to $1.27 billion.

Executive chairman David Teoh says: “However, as only a few weeks have elapsed since the completion of the acquisition of iiNet, it is not yet possible to forecast with sufficient certainty the likely financial results for the combined group for the year ahead and, therefore, no specific guidance is yet provided for FY16.”

TPG Telecom now has about 1.7 million customers and revenue of $2.3 billion with the addition of iiNet.

Here’s TPG’s business mix and growth:

The company declared a final dividend of 6 cents a share, bringing total dividend to 11.5 cents, an increase of 24%.

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