TPG Telecom Maintains Focus on Offering Simple, Value Plans
Team Veye | 30-Aug-2024
TPG Telecom Limited’s (ASX: TPG) continued growth in its Mobile business reflects its focus on offering simple, great value plans in view of growing demand, despite slowing subscriber growth.
TPG Telecom reported service revenue of $2,327 million in HY24, increasing 1.7 per cent on HY23. Growth being driven by Mobile service revenue surging to $1,121 million, 7.2 per cent jump.
The company reported Gross margin at $1,585 million, rising 3.9 per cent, reflecting the strong Mobile service revenue growth as well as the growth of higher margin Fixed Wireless products. This offset the impact of lower Fixed service revenue from intense competition in the NBN market.
Executing increased action on cost and strategy delivery in the second half, TPG was taking action on operating costs, cutting 120 jobs from the company.
TPG Telecom's multi-year program remains on track to simplify its business, increase digitalisation and streamline systems and platforms. This will make the organisation leaner while strengthening its ability to deliver.as per changing needs of the customers.
Source: Company’s Report
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