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July 23, 2017

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Australia's Telstra annual profit up 14.3 percent thanks to sale of CSL

SYDNEY--Australia's dominant telecom company Telstra posted a 14.3 percent jump in annual net profit to AU$4.28 billion (US$3.98 billion) Thursday, boosted by the sale of its Hong Kong mobile business CSL.

The strong result allowed the company to raise its final dividend to 15 cents, the first hike in eight years, taking the full-year shareholder payout to 29.5 cents, while also announcing a AU$1.0 billion off-market share buy-back.

Total income increased by 6.1 percent to AU$26.3 billion while earnings before interest, tax, depreciation and amortization were up 9.5 percent at AU$11.1 billion.

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