Telstra (ASX:TLS) has reported its net profit after tax (NPAT) fell 8.9 per cent to $3.5 billion for the financial year 2018.
Revenue was flat and total income was just 3 per cent higher at $29 billion from the corresponding period last year.
EBITDA reduced 5.2 per cent to $10.1 billion
Final dividend of 11 cents per share take the total dividend for FY18 to 22 cents per share.
Telstra CEO Andrew Penn says the continued downward pressure on EBITDA and NPAT is caused by the further rollout of the nbn and lower Average Revenue per User (ARPU).
Back in June Telstra announced its new T22 strategy simplifying its operations and product set to strength the balance sheet.
Shares in Telstra (ASX:TLS) closed flat at $2.89