Internet service provider TPG has lifted its full year profit by 16 per cent, as it continues to grow its broadband and mobile customer numbers.

TPG on Tuesday said its net profit for the year to July 31 was $90.9 million, up from $78.2 million in the previous 12 months.

The company’s broadband customer base grew by 47,000 to 595,000, and mobile customers grew by 54,000 to 255,000.

Allan Franklin, an analyst at stockbroker Patersons, said customer growth was strong for a mid-sized telco.

“TPG’s subscriber growth remains at odds with flat to negative growth being delivered by other second-tier competitors,” he said.

TPG’s corporate business also posted strong earnings growth as it continued to expand its fibre network, which now connects to more than 1,400 buildings, it said.

The company’s earnings in the year to July were $261 million, up 12 per cent on the previous year.

TPG said it expected earnings to increase in its fiscal 2013 year, to between $263 million and $273 million.

Its shares rose on Tuesday, up seven cents, or 3.4 per cent, at $2.14.

The company declared a final, fully franked dividend of 2.75 cents, up from 2.25 cents previously.