Transcript 4868
PRIME MINISTER
FOR PRESS 30 OCTOBER 1978
The Prime Minister sent the following telex to Mr Hamer today:
My dear Premier
I have noted the views expressed in your message
regarding the annual profit announced by Telecom
Australia. Telecom's profit of $ 185 m. represented a return
of only 2.7% on its net assets, a very modest
return by the standards of most business enterprises.
The $ 185 m. will be used towards the
financing of Telecom's Capital Development Program
of over $ 900 m. in 1978/ 79.