Telstra Wants One Third Of Its Revenue To Eventually Come From Asia

Telstra boss David Thodey (Photo: Getty Images)

Telstra boss David Thodey wants one third of the telco’s revenue to come from Asia by 2020 and has suggested there could be some major acquisition’s in the pipeline.

Thodey did an interview with the Australian Financial Review to mark his five-year anniversary at the helm, and provided some new information about his aspirations for growth.

“I would like to think at least a third of our revenues and profits came from offshore by some period out to 2020 and beyond. That’s a reality that the company has got to face,” he said in the report.

“I do think that Telstra has the potential to be a great, global ­technology company.

“That’s a big statement. I do think for Australia and the capability of people inside Telstra we’ve got to have that objective.”

Currently only around 1% of Telstra’s earnings come from overseas. Under Ziggy Switkowski Telstra made a big push into Asia, which resulted in around $1 billion worth of write downs.

Thodey also hinted there could be a significant acquisition to assist with the growth plans: “It’s got to be an option we look at. However, I’m acutely conscious this industry has literally lost trillions of dollars in grandiose investments that have not delivered to shareholders.”

There’s more here.

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