Telstra (ASX:TLS) reports a 2.2 per cent drop in profit to $1.12 billion.
Revenue for the first half of the year fell 9.7 per cent to $10.9 billion and total income dropped to 10.4 per cent to $12 billion.
Shareholders will be receiving a 8 cent dividend despite a 14.7 per cent drop in EBITDA to $4.07 billion.
The company also proposed to transition to full ownership for their retail stores. Currently, Telstra owns and operates 67 stores with 166 branded stores run by independent licensees and a further 104 stores operated by Vita Group Limited.
Shares in Telstra (ASX:TLS)
are trading 3 per cent higher at $3.27