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The Canadian Press - ONLINE EDITION
Australia's Telstra Corp reports 23 per cent increase in first-half profit to $1.58 billion
SYDNEY - Australia's largest telecommunications company, Telstra Corp., reported a 23 per cent increase in first-half profit to $1.47 billion ($1.6 billion) as growth in mobile and Internet customers offset its declining fixed-line telephone business.
The former government-owned monopoly said in a statement Thursday the result for the six months through December was in line with the company's expectations "despite the difficult macro economic backdrop."
Telstra said it added 958,000 mobile customers in Australia during the half year and signed up 106,000 fixed broadband customers.
Its fixed line telephone business continued to struggle, shedding 136,000 customers with revenue down 9 per cent to AU$2.49 billion.
Telstra's profit shrank 17 per cent to AU$3.2 billion in the last fiscal year.
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