Australia's Telstra full-year profit rises 12.9 pct
SYDNEY, August 8
SYDNEY, August 8 (Reuters) - Telstra Corp, Australia's largest phone company, posted a 13 percent rise in full-year net profit on Thursday, underpinned by growth in its mobile business.
Telstra, which sold its fixed-line assets to the government for A$11 billion to form the basis of a A$37.4 billion ($34.2 billion) National Broadband Network, posted a net profit after tax of A$3.9 billion ($3.5 billion) for the year ending June 2013, compared with A$3.4 billion a year earlier.
That was slightly higher than forecasts of A$3.76 billion in the year to June 30, according to Thomson Reuters I/B/E/S.
Total revenue rose 1.9 percent to A$26.0 billion, broadly in line with analysts' forecasts for A$25.7 billion. Telstra had affirmed its guidance in February for low single-digit growth in total income in 2013.
The company declared a steady dividend of 28 cents per share for the year.
Telstra shares, which rose by almost one-third in 2012 and hit an 8-year high of A$5.15 in May, closed at A$5.01 on Wednesday. ($1 = 1.1125 Australian dollars) (Reporting by Maggie Lu Yueyang; Editing by Richard Pullin)
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