Thinking about it, TPG were very aggressive in trying to acquire NBN customers. Letter box drops, door to door sales people, lots of sales calls. Haven't seen that activity lately.
I think TPG's profit numbers will be lacklustre.
The cost of moving customers to the NBN is huge.
That's a cost today, with revenue in the future.
The last 6 months have seen more people move to the NBN than any other period.
That means a lot of cost has fallen in the last 6 months to secure future revenue, and then they receive less money too.
That will be a continuing trend for another 2 years at least.
I get the feeling the market will be a little disappointed, which is why the share price has been heading south for so long.
TPM Price at posting:
$5.13 Sentiment: None Disclosure: Not Held
