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.
