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CORRECTED-TPG Telecom annual profit beats estimates; FY18 EBITDA expected to fall
September 18, 2017 / 10:40 PM / 3 months ago

CORRECTED-TPG Telecom annual profit beats estimates; FY18 EBITDA expected to fall

(Corrects year-end date in 2nd graf)

Sept 19 (Reuters) - Australian telecom services provider TPG Telecom Ltd on Tuesday posted an annual net profit that rose 9 percent and topped estimates, but said it expects fiscal year 2018 earnings before interest, tax, depreciation and amortization (EBITDA) to be lower than the prior year.

TPG’s net profit for the year ended July 31 was A$413.8 million ($329.30 million), compared with A$379.6 million in the previous year. Analysts on average had expected a net profit of A$377.9 million, according to Thomson Reuters I/B/E/S.

The company said it now expects EBITDA for its fiscal year ending July 2018 of between A$800 and A$815 million, slightly lower than the A$835 million it reported in the latest fiscal year.

The telco announced a final dividend of 2 Australian cents per share lower than its 7.5-cent payout a year ago.

$1 = 1.2566 Australian dollars Reporting by Hanna Paul and Christina Martin in Bengaluru

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