Telstra delivers record profit

Telstra has announced a net profit of $3.486 billion, for the year ending June 30 1999, representing a 16 per cent increase on last financial year.

Ziggy Switkowski, Telstra's CEO, said strong profits reflected growth in new products and services such as mobiles, data and internet products.

Mobile revenues were $2.538 billion, up 17.8 per cent.

Data, text and internet revenues were up 13 per cent to $2.483 billion, a jump of 13 per cent on last year.

There had also been growth in basic access and local calls, Switkowski said.

Total expenses before interest increased 1 per cent to $9.818 billion.

"Telstra's capital expenditure and investment increased during the year because we increased our focus on investing for future growth and areas of customer service which needed improving.

"These included expansion of our original plans for the [CDMA] network, and additional remediation work on one of our most important assets, the Customer Access Network," he said.

Switkowski said the aims of the company were to improve customer service, implement new networks including the Data Mode of Operation (DMO) and CDMA, implement regulatory decisions, and improve costs.

The company will also seek further domestic and international opportunities in data, internet and mobiles he said.

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