Telstra repeats subdued outlook ahead; CEO talks of competition.

(From AAP News)

Byline: Alan Wood

SYDNEY, Oct 21 AAP - Telecommunications giant Telstra Corp reported a 1.1 per cent rise in first quarter revenues today but failed to inspire the market when it reiterated its outlook for subdued growth. Telstra's underlying sales revenue for the three months to September 30, 2002 of $4.9 billion, up 1.1 per cent, was in line with expectations. Telstra's total reported revenue - including asset sales - increased 15.3 per cent to $5.7 billion, assisted by the sale of a number of commercial properties in August 2002. Chief executive Ziggy Switkowski said telco industry competition remained tight, particularly in the key …