Telstra Full Year Guidance

Australian telecommunications network, Telstra (ASX:TLS) has reiterated their full year guidance, expecting its first-half result to show a low double digit decline in earnings before interest, tax and depreciation (EBITDA).

At Telstra's Annual General Meeting (AGM) on Friday, Chief executive David Thodey said: "I currently expect our half-year results will show higher customer numbers, a low double digit decline in EBITDA as a result of increased redundancy costs in the first half and a change in the recognition of revenue from the Sydney Yellow Pages from the first half to the second half. The company remains strong and in an excellent position to capitalise on the emerging market opportunities."

Chairman Catherine Livingstone said "In the short-term we need to do more to protect shareholder value, because your board is very concerned by Telstra’s undervalued share price," in addressing Telstra shareholder concerns over the share price. She also said that the Telstra board of directors is committed to maintain its 28 cent fully franked Telstra dividend for this and the next financial years.

Shares in Telstra went to an all time low of $2.55 per share this week.