Telstra 2011 Annual Report Download - page 37

22
Telstra Corporation Limited and controlled entities
Full year results and operations review - June 2011
Other revenue
Other revenue includes distributions received from our
FOXTEL partnership of $70 million, representing a
16.7% or $10 million increase on prior year.
Other income
Other income increased by 88.4% largely driven by the
sale of SouFun, our Chinese real estate website ($69
million profit), our interest in Keycorp Ltd, an Australian
provider of secure electronic transaction solutions ($8
million profit) and Telstra Ltd’s non-core voice business
in the UK ($16 million loss). The total net gain received
from the sale of investments amounted to $61 million.
Other miscellaneous income grew by 48.9% or $22
million largely due to the reversal of contingent
consideration related to the purchase of LMobile ($30
million), offset by the impairment of goodwill in
expenses following a review of estimated future cash
flows.
Year ended 30 June
2011 2010 Change Change
$m $m $m %
Distributions received. . . . . . . . . . . . . . . . . . . . . . . . . . . 70 60 10 16.7
Rental income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 44 (4) (9.1)
Total other revenue . . . . . . . . . . . . . . . . . . . . . . . . . . 110 104 6 5.8
Year ended 30 June
2011 2010 Change Change
$m $m $m %
Proceeds from asset and investment sales . . . . . . . . . . . . . . . . . 535 27 508 n/m
Cost of asset and investment sales . . . . . . . . . . . . . . . . . . . . 460 25 435 n/m
Net gain on assets/investment sales. . . . . . . . . . . . . . . . . . 75 273n/m
USO levy receipts and subsidies . . . . . . . . . . . . . . . . . . . . . . 69 65 4 6.2
Miscellaneous income . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 45 22 48.9
Other income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 136 110 26 23.6
Total other income . . . . . . . . . . . . . . . . . . . . . . . . . . . 211 112 99 88.4