Vodafone Hutchison Australia has reported a $154.8 million full year loss and fewer mobile customers, but its pending merger with TPG could be the key to turning its fortunes.
Revenue fell to $5.7 million for 2019, down from $10.6 million the year prior.
The carrier’s loss for 2019 is in stark contrast to a $4.5 million profit it posted a year ago.
Vodafone also reported a loss in mobile customers, with its prepaid base the hardest hit. It had 2 million customers for 2019, down eight per cent from 2.2 million in 2018.
In postpaid, it had 3.4 million customers – down from 3.5 million people the year prior.
Vodafone’s future lies in a merger with internet service provider TPG, with the two businesses this month winning their case in the Federal Court to merge.
The combined company could be able to better provide voice and data services and take on Telstra and Optus.
The Australian Competition and Consumer Commission had argued the merger should not proceed as TPG was likely to provide mobile services anyway and provide a fourth competitor.
The Commission is considering whether it will appeal.
AAP
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