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Telstra has reported an 8 per cent increase in annual profit to $4.447 billion, slightly higher than market forecasts.
Analysts had been tipping $4.39 billion.
The company says growth in the mobile phone and broadband markets boosted revenue. It has faced stiff competition from Optus in those markets.
Telstra shares have climbed 1.6 per cent this year to $4.99.
Telstra is 51.8 per cent owned by the Government, which wants to fully privatise it in late 2006.
Originally posted by Mayet
I have but one question...Why the heck are the government selling an asset that made over 4 billion profit that could go into the pockets of everyone and not just the elite rich who buy shares?