Telstra result solid but in line with investor expectations

Telstra result solid but in line with investor expectations. Steve Johnson, CIO of Forager Funds says the Telstra result whilst solid would be more or less in line with expectations. The telco made a net profit of $2.08 billion for the six months to December 31, up from $1.70 billion a year ago. It reaffirmed its full year guidance for single digit earnings growth, excluding the impact of the sale of its stake it Hong Kong mobile business CSL in 2014. The company also lifted its interim dividend half a cent to 15 cents, which equates to a $1.8 billion return to shareholders. Johnson says he is cautious that management may start searching for growth in new regions where they lack the advantage of being the market leader. Watch the interview on the following link: (VIEW LINK)

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