News: TPG boosts FY forecast as H1 profit grows

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TPG Telecom Limited (ASX:TPM) has boosted its annual earnings forecast after reporting interim profit growth. 

The telco’s net profit rose 18 per cent to $106.7 million in the first half of the 2015 financial year while revenue rose 59 per cent to $627 million. 

Looking ahead the company expects to generate EBITDA of between $480 million to $483 million over the full 2015 financial year.

The results come just week after iiNet Limited’s (ASX:IIN) board backed a takeover offer from TPG Telecom which has since run into some opposition. 

A fully franked interim dividend of 5.5 cents per share has been declared.