By Stuart Condie
SYDNEY--Telstra Corporation Ltd. said full-year profit fell 16% as the government-owned national broadband network continued to eat into earnings and mobile revenues fell.
Australia's largest communications provider said Thursday that net profit attributable to shareholders for the 12 months to June fell to 1.82 billion Australian dollars ($1.30 billion) from A$2.15 billion a year earlier. Total income fell 5.9% to A$26.16 billion, as mobile revenue fell 4.4% and fixed-line revenue fell 12.1%.
Telstra will pay a final dividend of 8.0 Australian cents, the same as at its half-year results. Shareholders received the same amount a year ago, albeit split into a final dividend of 5.0 cents and special dividend of 3.0 cents.
Stripping out one-off costs including A$200 million of restructuring charges, Telstra recorded underlying earnings before interest, tax, depreciation and amortization of A$7.4 billion. That was in line with the bottom end of the A$7.4 billion-A$7.9 billion guidance range issued with February's half-year results and confirmed by the company in late March.
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