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Telstra profit rise

Telstra posts 14.6% profit rise

Telstra has announced a 14.6% rise in net profits for the 2013-14 financial year, making it one of the most successful in recent times.

The result reflects continuing growth in the company’s mobiles business, in fixed data and in Telstra’s Network Applications and Services unit, which grew by 27.8% over the period.

Growth in these areas offset the continuing decline in fixed voice revenues, though Telstra reported that this decline had slowed, due partly to successful bundling of services, including Foxtel.

Telstra has celebrated its improved fortunes with a big cash splash, announcing a $1 billion share buyback and the second increase in its dividend this year. Telstra shares reached a 12 year high on the news.

Don’t spend it all at once, David. Keep some for the new Telstra Enterprise Agreement next year.

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