SaskTel’s annual report shows a net income of $125 million.
The crown tabled it’s annual report in the legislature Wednesday. Operating revenues reached $1.5 billion with a small decline in operating expenses of 0.6 per cent.
Revenues grew mainly due to increases in maxTV, internet and data revenue, and continued wireless growth.
“As changes to customer demands, technology, competition, data traffic and regulations continue their rapid advance, we are extremely pleased to report a higher than anticipated net income,” SaskTel President and CEO Ron Styles said. “SaskTel responded to these challenges by continuing with its cost containment strategy, optimizing on its legacy services, and introducing new competitive services into the market and the corporation is beginning to see the results of these strategies in its 2015/16 net income.”
SaskTel paid dividends of $30 million to CIC during the 15 months ending March 31, 2016, a decrease of $53.7 million from the year ending December 31, 2014.