Updated
Tax credit lifts TPG to full-year profit
Lucas BairdReporter
Updated
Key Points
- Revenue ($m) 4350, up 24pc from year-earlier 3513
- Pretax profit ($m) -86 v -280
- Net profit ($m) 734 v -280
- Interim dividend 7.5c payable on April 14
TPG Telecom has swung to an after-tax profit of $734 million in its first full-year result since merging with Vodafone Hutchinson Australia, thanks largely to a one-off tax credit that lifted the bottom line into the black.
The company said the $820 million tax credit arose due to historical tax losses that had accumulated on Vodafone’s balance sheet and were now able to be used.
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