The company’s total income rose 5.4 per cent to $23.2 billion in the 12 months to June 30, with underlying earnings before interest, tax, depreciation and amortisation up 9.6 per cent to $8 billion.

Telstra declared a fully-franked final dividend of 8.5 cents per share, bringing total dividends for the year to 17c, a three per cent increase from 2021/22.

Chief executive Vicki Brady said Telstra’s T25 strategy, first announced in 2021, was on pace to deliver most of its objectives.

“In a few months’ time we will hit the halfway point in delivering our strategy and the response from customers tells me we are absolutely on the right track,” she said.

A survey used to gauge customer satisfaction is on some metrics at historic highs, while customer complaints dropped to a record low, Ms Brady said.

But chief financial officer Michael Ackland said issues around the NBN and a protracted special undertaking process had led to delays in Telstra’s commercial execution.

“We will continue to take action to ensure we have a sustainable reseller business,” he said.

“However, our ambition of mid-teens margin is unlikely to be met by FY25.”

Telstra will stop accepting new customers for its retail electricity business and focus instead on accelerating digitisation and moving consumers and small businesses off legacy systems.

At 10.40 am AEST, Telstra shares were down 3.2 per cent to $4.115, on another day of sharp declines for the market.

– AAP

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