Andrew Penn (Telstra)
Telstra has boosted its profit to$1.9 billion in 2021 as it announces an on-market share buy-back of up to $1.35 billion.
For the year ended June 30 2021, the telecommunications giant saw its net profit increase by 3.4 per cent as it plans to return 50 per cent of the net proceeds from its InfraCo Towers sale to shareholders this financial year.
The profit rise comes as Telstra’s revenue dipped by 9.1 per cent to $21.55 billion while earnings before tax (EBITDA) shrunk 14.2 per cent to $7.6 billion.
Telstra CEO Andrew Penn said 2021 was a significant year as it delivered results in line with guidance and saw the focus and discipline on its T22 strategy being to pay off, heading into FY22 in a…
Read the full article at: https://www.arnnet.com.au/article/690482/telstra-reaches-financial-turning-point-1-3b-buy-back-announced/