TPG Telecom (TPM.ASX) FY16 result is at the bottom end of their guidance. FY16 underlying EBITDA was A$775m versus guidance for A$770-785m.
FY17 guidance has come down from consensus expectations of A$885m to now guiding in the range of A$820-830m EBITDA.
This is a weak result relative to their recent history of beating guidance and market expectations. Reflected in the markets 17% sell-off today!
TPM declared a $0.07 final dividend.
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks