Telstra Answers Call For Bigger Profit

Australian telecommunications group Telstra Corp on Wednesday gave its new army of investors a reason to phone home, reporting a surge in half-year profit. Shares in Australias most profitable company hit a record high after it reported a 10.7 percent jump in half-year net profit before one-off items to A$1.55 billion (US$1.04 billion). The result, Telstras first as a listed company, was helped by accunting changes, but it came in near the top of brokerage forecasts for a profit of A$1.5 billion to A$1.55 billion.