Oh, How The Money Rolls: TPG Banks $1.27bn, Up 31pc


	Acquisition of AAPT from Telecom NZ helped drive a full-year profit of $224.1 million, compared to $171.7 million a year ago. (The results do not reflect the recent $1.6 billion acquisition of Australia’s iiNet). Total revenue was up 31 per cent at $1.27 billion for the 12 months to July 31. Broadband revenue was responsible for almost half of this, up 14 percent at $554.4 million. Investors were apparently expecting more. Shares in TPG closed down 48 cents, or 4.58 percent, at an even $10. They have ranged between $6.05 and $10.75 over the past year, and have risen from $8.73 on September 3. Yesterday’s price gives TPG a market cap of $7.94 billion. (In case you were wondering, by comparison Telstra has a market cap of more than $70 billion).