Telstra Corporation Ltd
(ASX:TLS) has posted a 36 per cent fall in first half profit.
The telco recorded a net profit after tax of $1.21 billion for the six months to December 31, 2010. That’s down from $1.89 billion during the same period the year before.
The company has also reaffirmed its guidance for the full 2011 fiscal year, expecting flat sales revenue for that period.
The telco has been undergoing costly structural changes in an attempt to cut costs and diversify away from the declining fixed phone line market.
Telstra will pay an interim dividend of 14 cents.
Telstra booked a net profit of $3.9 billion in fiscal 2010.
