Telstra Group Ltd

TLS: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$9.90	Wpymm	Bzgbfsm

Telstra's Fiscal 2014 as Expected, but Overshadowed by AUD 1 Billion Off-Market Buyback

, Ross MacMillan

Aug 14, 2014

Telstra released fiscal 2014 earnings, reporting underlying net profit after tax, or NPAT, of AUD 4 billion, in line with our forecasts. Underlying earnings before interest, tax, depreciation and amortisation, or EBITDA, rose 3% to AUD 10.7 billion, slightly ahead of our AUD 10.6 billion estimate. Confirmation of an AUD 1 billion off-market share buyback was a key positive takeaway.

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