Australian telecom giant Telstra has decided to postpone the sale of a portion of its InfraCo Fixed business, as it announced a 13.1 percent rise in annual profit to $2.1 billion.
The potential divestment of InfraCo Fixed had been under consideration since late last year, with speculation intensifying earlier this year. However, Telstra’s CEO Vicki Brady stated that after careful evaluation, the company has concluded that maintaining the current ownership structure of InfraCo Fixed is more beneficial for shareholders in the medium term.
Telstra’s mobile business remains a significant driver of growth, contributing to a 5.4 percent increase in total revenue and a 13.1 percent rise in profit for the fiscal year. Mobile revenue saw a robust 8.3 percent growth to over $10.3 billion, while fixed network revenue declined slightly.
The acquisition of Digicel Asia Pacific bolstered Telstra International’s revenue, which surged by 62 percent to $2.4 billion.
Brady emphasized Telstra’s achievement in reaching its 85 percent 5G population coverage target and the expansion of capabilities within its 5G network. She also highlighted Telstra’s ongoing evaluation of the latest NBN SAU (Special Access Undertaking) revision, stating that a specific response is pending.
Telstra’s decision to retain its InfraCo Fixed unit comes amidst its focus on catering to strong customer demand for infrastructure driven by cloud adoption, AI, data centers, and undersea cable needs.
