“Economic environment”, competition, pull down 2017/18 profits at SaskTel

REGINA - SaskTel reported 2017/18 net income of $121.0 million from operating revenues of $1.253 billion in its annual report released this week.The provincial Crown Corp said revenues fell 2.3% ($29.6 million) from the same period in 2016/17, primarily due to the economic environment, regional wireless pricing, changing consumer behaviour, and increasing competition which impacted its opportunities to offset revenue declines from legacy wireline services.Revenues are composed primarily of wireless (40.9%); maxTV service, internet, and data (27.9%); and local access, enhanced services, and long distance (18.7%), continued the report. Legacy revenues continued to decline but were offset by revenue growth...