Telstra Corporation Limited
(ASX:TLS) has reported a 17 per cent fall in full-year net profit, beating expectations of an even steeper decline.
In the year to June 30, Australia’s largest telco posted a net profit of $3.231 billion. Revenue lifted 0.7 per cent to $25.09 billion.
Fiscal 2011 earnings dropped 6.4 per cent but Telstra says it is expecting slight improvements in fiscal 2012.
Looking ahead, Telstra forecasts low single digit growth in both revenue and and earnings.
A fully-franked final dividend of 14 cents has been declared, bringing the full year payout in line with last year at 28 cents per share.
