REGINA – Despite the losses suffered by many of its peers, SaskTel reported healthy profits and revenues for 2009.
The company reported net income of $129 million, an increase of $7.6 million over 2008 figures, while operating revenues of $1.15 billion were up $13.7 million over the previous year.
Strong customer growth in its cellular, TV and Internet services were partially offset by reductions in local access and long distance services, SaskTel announced Wednesday.
Wireless revenues “increased significantly” to $375.8 million in 2009, an increase of 6.5% from 2008, and total cellular accesses increased to 541,105, up 39,085 from 2008. Max Entertainment Services grew to 77,831 customers while revenues increased by $13.5 million year-over-year.
SaskTel now reaches over 99% of the Saskatchewan population with its high speed Internet service, and with the continued expansion to more Saskatchewan communities, the number of Internet accesses grew to 225,125 in 2009, an increase of 9,063 over 2008.
“In 2009, SaskTel achieved very solid financial results while continuing to demonstrate its commitment to the people of Saskatchewan,” said Don Morgan, the Minister responsible for Saskatchewan Telecommunications, in a statement. “SaskTel’s primary strategy for growth has been serving Saskatchewan people first by focusing on growing its core business within the province and these financial results are evidence this strategy is working.”
