David Stuart

Telstra posts significant profit increase

THE nation's biggest telecommunications company posted a significant 21.7% profit increase last year it announced on Thursday.

Telstra's half-yearly accounts showed a $2.1 billion net profit, up about $378 million from last year, on the back of falling finance costs.

But the profit increases, driven by a 28% fall in finance costs, were not translated into revenue increases.

The company reported to the stock exchange a revenue rise of 1.6% on last year, to $13 billion.

The results delivered shareholders a neat 15% dividend.