TPG Telecommunications has announced plans to deliver NBN-like speeds to over half a million apartments by rolling out fibre optic cables to the basements of buildings.
Sydney, Melbourne, Brisbane, Adelaide and Perth will be the initial target of the rollout, which will use TPG’s existing fibre optic cable network.
The service will deliver up to 100 megabits per second with unlimited downloads for $69.99 per month.
TPG’s foray into fibre network came as it reported a net profit of $149.2 million for the financial year ended July 31, up 64 per cent from the previous year.
The company delivered its record annual profit results yesterday on the back of strong subscriber growth. It added 76,000 customers in the past 12 months compared to 47,000 in 2012.