February 13, 2019 / 9:19 PM / 9 days ago

Australia's Telstra posts 28 pct fall in H1 profit

Feb 14 (Reuters) - Australia’s largest telecoms company Telstra Corp Ltd reported a 28 percent fall in half-year profit on Thursday, as a new government-owned network gnawed away at its high-margin wholesale business.

Net profit fell to A$1.23 billion ($871.70 million) for the six months to Dec. 31, from A$1.71 billion a year earlier.

It announced an interim dividend of 8 Australian cents per share, compared with 11 cents a year earlier. ($1 = 1.4110 Australian dollars) (Reporting by Nikhil Kurian Nainan & Nikhil Subba in Bengaluru; editing by Chris Reese)

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