Telstra Corporation Ltd
(ASX:TLS) has reported a 10.3 per cent rise in full year net profit this morning on higher revenue.
Net profit for the 12 months to June 30 came to $4.1 billion, up from $3.69 billion the year before.
Revenue rose 2.7 per cent to $25.5 billion, compared to $24.8 billion in fiscal 2008. The telco had expected revenue growth of 3 - 4 per cent.
Earnings before interest and tax rose 5.3 per cent to $6.6 billion ahead of the 3 - 5 per cent growth previously given.
CEO David Thodey says Telstra faces significant challenges in the coming year, but is well placed to face those challenges.
The company forecasts fiscal 2010 sales revenue, earnings before, interest, tax depreciation and amortization and earnings before interest and tax growth in the low single digits, and says it expects to generate $6 billion of free cash flow in the year.
Telstra declared a final dividend of 14 cents a share. Telstra’s profits have increased over the last two years after a fall in 2006.
Soft drink maker Coca-Cola Amatil Ltd (ASX:CCL) says it first half net profit rose 10.4 per cent after favourable summer weather in the first quarter led to higher drink sales.
Net profit after tax for the six months came to $189.8 million, up from $171.9 million for the same half last year, while earnings before interest and tax rose 10 per cent to a record $339.8 million.
Managing director Terry Davis says the highlight for the half was the performance of the Australian Beverage business which delivered strong revenue and earnings growth.
Coca-Cola Amatil says it expects to deliver high single digit growth in both earnings before interest, tax and net profit after tax for the second half. Coca-Cola Amatil posted net profit of $385.6 million in 2008.
Optus has reported a strong first quarter with a 13 per cent increase in profit thanks to sales of the Apple iPhone and other smart phones.
Net profit for the three months to June rose to $139 million compared to $122 million in the June quarter 2008.
The company, a subsidiary of Singapore Telecommunications Ltd (ASX:SGT), says operating revenue rose 12 per cent to $2.2 billion.
Singtel reported a 10 per cent increase in net profit to $785 million.
Optus CEO Paul O’Sullivan says the company had a strong start to the financial year, accelerating its momentum with significant customer acquisitions across the mobile, consumer and business divisions. Looking back over the past five years of results, Singapore Telecommunications profit highlight was in 2006.
