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Vodafone's revenue plummeted before TPG merger

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Key Points

  • Revenue ($m) 1540.0, down -10.6%
  • EBITDA ($m) 531.0, down-8.9%
  • Net profit ($m) 83.0, up-154.2%
  • No interim dividend 

Vodafone Hutchison Australia's revenue plummeted 12 per cent in the six months before the merger with TPG Telecom in late June, as the COVID-19 fallout and pre-existing problems caused the telco to lose mobile customers.

In the merged company's first set of half-year results, TPG Telecom reported a six month revenue of $1.5 billion, down 11 per cent on the previous period. Earnings before interest, tax, depreciation and amortisation fell 9 per cent to $531 million.

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James Fernyhough writes about telecommunications, insurance and financial services. He's based in the AFR's Melbourne office. Connect with James on Twitter. Email James at james.fernyhough@afr.com.au

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    Original URL: https://www.afr.com/companies/telecommunications/vodafone-s-revenue-plummeted-before-tpg-merger-20200821-p55nxy