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TLS - Telstra News Story

NZD3.72 0.0  0.0%

Last Trade - 14/05/21

Sector
Telecoms
Size
Large Cap
Market Cap £22.56bn
Enterprise Value £32.38bn
Revenue £12.39bn
Position in Universe 16th / 1913

BUZZ-Australia's Telstra hits over 1-month low on expected profit drop from NBN rollout

Tue 16th October, 2018 3:44am
** Telstra Corp  TLS.AX  falls as much as 2.6 pct to A$3.02,
its lowest in more than a month 
    ** Australia's largest telecom firm's profit is expected to
halve after the govt-owned National Broadband Network's (NBN)
rollout in 2021 - Chairman John Mullen said   urn:newsml:reuters.com:*:nL3N1WV5RC
    ** Telstra faces pressure from the NBN rollout, which will
require the telco to pay for the govt laid fibre-optic system,
replacing the copper wires it currently lays itself 
    ** Last month, Telstra cut its 2019 earnings guidance to
between A$8.7 bln and A$9.4 bln ($6.21 bln - $6.71 bln),
excluding restructuring costs, from A$8.8 bln - A$9.5 bln,
citing delays in the broadband rollout
    ** The fall in profit would affect its dividend - Mullen 
    ** Stock down 12.8 pct so far this year as of last close, in
the backdrop of a slew of major restructuring changes announced
earlier this year 
    
($1 = 1.4010 Australian dollars)

 ((NikhilKurian.Nainan@thomsonreuters.com; +91 806 749 1637;
Reuters Messaging:
nikhilkurian.nainan.thomsonreuters.com@reuters.net))
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