Tuesday, 20 September, 2016 - 10:57
TPG shares plunge on results, outlook
Shares in TPG Telecom, which purchased iiNet last year, have plunged almost 19 per cent with investors disappointed by its underlying results, dividend and outlook.
TPG (ASX: TPM) is an Australian telecommunications service provider. It provides a diverse range of communication services to residential users, small and medium enterprises, government, large corporate enterprises and wholesale customers. TPG offers nationwide ADSL2+, NBN, Fibre Optic and Ethernet broadband access, telephony services, Internet Protocol Television (IPTV), SIM Only Mobile plans and various business networking solutions.
TPG owns end-to-end network infrastructure which includes over 400 DSLAM enabled telephone exchanges across Australia, extensive inter-capital and metropolitan fibre optic networks, and the international PPC-1 submarine cable connecting Australia and Guam with onwards connectivity to USA and Japan.
Having acquired AAPT in February 2014, TPG has added inter-capital fibre optic networks to its infrastructure assets.
In July 2020, TPG merged with Vodafone Hutchison Australia.
Rank | Company | 1 Yr | 5 Yr |
---|---|---|---|
883rd | Indus | -0.64% | 4.8% |
884th | Prophecy International Holdings | -0.97% | -0.16% |
885th | TPG Telecom | -0.98% | -5.98% |
886th | Kingsgate Consolidated | -1.04% | 28.61% |
887th | Sims | -1.25% | 6.73% |
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Shares in TPG Telecom, which purchased iiNet last year, have plunged almost 19 per cent with investors disappointed by its underlying results, dividend and outlook.
The Australian share market has closed slightly higher as investors wait for crucial central bank interest rate decisions from Japan and the US.
SPECIAL REPORT: The national broadband network is throwing up unexpected competitive challenges for players in the communications sector.
TPG Telecom has reaffirmed its annual earnings guidance in a bid to ease investor concerns, a week after rival Vocus Communications spooked the market with its worst-than-expected earnings update.
Internet provider TPG Telecom has delivered strong interim financial results - thanks largely to the contribution of its iiNet operations - and has reaffirmed its underlying earnings guidance for the year.
Telstra shares fell today after internet provider TPG Telecom said it would build Australia's fourth mobile network for about $1.9 billion, after securing much-needed mobile spectrum in a government auction.
TPG Telecom shares have slumped in their first trading session since the internet provider launched a capital raising to help fund its plan for its own mobile network.
An infrastructure delivery company that had carried out work on the NBN rollout in Perth has collapsed.
Film distributor Village Roadshow has won in legal proceedings brought against telco services including Telstra, forcing them to block domain names for services used to illegally download movies and other programs.
Shares in TPG Telecom have soared after the fourth-ranked internet player beat its earnings forecast and delivered a 9 per cent lift in full-year profit.
Telstra says competition in the telecommunications sector remains tough and concedes it will probably lose customers to smaller rival TPG Telecom when the market newcomer establishes its own mobile phone network.
TPG Telecom has lifted its full-year guidance after first-half underlying profit rose, but the internet provider’s two subsidiaries, iiNet and Internode, are being forced to compensate 11,000 customers following an investigation by the consumer watchdog.
TPG Telecom has confirmed media speculation it is in talks with Vodafone Australia regarding a potential merger.
Vodafone Australia and TPG Telecom have agreed to merge into a single $15 billion telecommunications firm in an effort to more effectively challenge telecoms giants Telstra and Optus.
TPG Telecom has reported a 4.6 per cent drop in full-year profit to $396.9 million after the NBN hit broadband margins and home phone revenue.
The National Broadband Network is significantly outperforming ADSL services, according to a new report released by the consumer watchdog.
ANNIVERSARY SPECIAL: WA companies have been on the receiving end of nearly every major takeover completed during the past two decades, with Wesfarmers a notable exception. This article is part of a special series to mark Business News' 25-year anniversary.
Three telco groups, including TPG and UK-based Dense Air, have spent $19 million securing 5G spectrum lots in Western Australia as part of an auction run by the Australian Communications and Media Authority.
Investors have shunned Vodafone Australia and TPG Telecom after the competition watchdog raised concerns that their merger into a $15 billion telco giant could mean higher mobile prices for consumers.
TPG Telecom's $2 billion plan to build Australia's newest mobile network looks to be in tatters because of the federal government's ban on using equipment from China's Huawei.
Women accounted for 29.7 per cent of ASX200 board members by the end of last year, an increase of more than 10 percentage points since the Australian Institute of Company Directors in 2015 called for ASX200 companies to achieve 30 per cent female representation on boards by the conclusion of 2018.
TPG Telecom will make $228 million of first-half write-downs related to its decision to stop building its mobile network.
TPG Telecom's first-half profit has slumped 76.5 per cent to $46.9 million after its decision to halt the rollout of its planned mobile network resulted in a $227.4 million impairment.
TPG Telecom shares have crashed along with those of Vodafone's local joint venture partner after the competition watchdog blocked the communications giants' $15 billion merger.
TPG Telecom's full-year profit has slumped 56.1 per cent to $173.8 million after the internet provider copped a $196.1 million hit from scrapping its planned mobile network.
ASX200 boards now feature 30 per cent women for the first time ever, according to the Australian Institute of Company Directors, leaving just seven companies in that index without female representation on their board.
A $15 billion merger between Vodafone Australia and TPG Telecom has been given the green light in the federal court, but the consumer watchdog says it will cause mobile data prices to rise.
TPG and Vodafone are a step closer to completing their planned $15 billion merger after the competition watchdog announced it would not appeal a Federal Court decision allowing the deal to proceed.
The proposed merger between Vodafone Australia and TPG Telecom has received the green light from the Foreign Investment Review Board, taking it another step closer to completion.
TPG shareholders have voted in favour of the internet service provider's merger with Vodafone Hutchison Australia.
TPG Telecom chairman David Teoh has resigned after many years developing the major force in the Australian telecommunications industry, and shares fell to a record low.
WA’s richest man and one of the state’s keenest telco investors are taking on the NBN.
Australia’s three biggest internet providers are being taken to court over NBN promotions that the ACCC claims misled hundreds of thousands of customers.
Internet and mobile provider TPG Telecom may follow Telstra's lead and sell some of its telecommunication towers as the merged entity pursues opportunities.
Telstra and TPG will share their regional networks with each other in what they claim will provide better service to people outside the major cities.
TPG and Telstra will appeal after the Australian Competition and Consumer Commission declined to approve their proposed $1.8 billion network-sharing deal.
TPG Telecom, the group operating Vodafone and iiNet, will be simplifying its brand portfolio with a target to drop its plans and products from 6,000 to about 100.
Perth-founded internet service provider iiNet is shutting down its email service in a move that is expected to impact thousands of businesses and individuals.
iiNet's story is one of a plucky Perth startup that became a leading Australian telco, but its legacy email addresses are on the nose at a leading accounting firm, which is banning them, along with those of Westnet.
The competition watchdog will not oppose Vocus Group Limited’s proposed acquisition of TPG Telecom Limited’s fixed business and fibre network assets in a deal worth billions.
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