Telstra has once again pinned the National Broadband Network (NBN) as the cause of a drop in profitability, claiming it is responsible for AU$600 million in negative earnings before interest, tax, depreciation and amortisation (EBITDA).In its results released on Thursday, Telstra said the cost to it from the NBN was now AU$1.7 billion in total, and that it has only seen half of the impact.Overall for the company, revenue was down 3.6% to AU$27.8 billion compared to last year, EBITDA shrunk 21.7% to AU$8 billion, and net profit was cut by 40% to AU$2.1 billion. Excluding costs from job cutting, Telstra said its EBITDA was down 11.4% to AU$9.4 billion.”While the reported financial trends in FY19 were challenging, underlying trends are expected to improve over the course of FY20,” the company said. Telstra is forecasting revenue of AU$25.7 billion to AU$27.7 billion for next year, with EBITDA between AU$7.3 billion to AU$7.8 billion, restructuring costs of AU$300 million, and NBN one-off payments of between AU$1.6 billion to AU$2 billion, with the government-owned network to cut its EBITDA by between AU$800 million to AU$1 billion.Over recent weeks, NBN and Telstra have engaged in a round of finger pointing over which company… Read full this story
- Man rescued from Carlisle shed where he was ‘kept as a slave’ for 40 years
- GM Cuts Forecast, Sees Strike's Full-Year Cost at $3 Billion
- Apple market share plunges to year’s lowest level in Vietnam
- Leading prawn cracker makers see profits jump 50 percent
- Thug, 28, is jailed for eight years after a vulnerable man's ear was bitten off in a brutal attack at the 40-year-old victim's own home
- John Lewis profits plunge 99% but Dominic Raab says ‘don’t blame Brexit’
- NHS photos over 40 years show just how much hospitals have changed
- This Administrator Helped Shape Tech at Colleges For More Than 40 Years. Here’s His Outlook on What’s Next.
- Emissions reduction fund could be used to upgrade 40-year-old coal-fired power plant
- Aharon Katzir: 40 years after
Telstra sees profit plunge 40% for full year have 333 words, post on www.zdnet.com at August 14, 2019. This is cached page on X-Buy. If you want remove this page, please contact us.