Telstra (ASX:TLS) reports a 2.2% drop in profit to $1.12 billion

Telstra (ASX:TLS) reports a 2.2 per cent drop in profit to $1.12 billion.

Revenue for the first half of the year fell 9.7 per cent to $10.9 billion and total income dropped to 10.4 per cent to $12 billion.

Shareholders will be receiving a 8 cent dividend despite a 14.7 per cent drop in EBITDA to $4.07 billion.

The company also proposed to transition to full ownership for their retail stores. Currently, Telstra owns and operates 67 stores with 166 branded stores run by independent licensees and a further 104 stores operated by Vita Group Limited.

Shares in Telstra (ASX:TLS) are trading 3 per cent higher at $3.27
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Source: Finance News Network