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Manitoba Telecom Q1 profit $54.2M; revenue up 2.6 per cent to $478.8M |
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Written by THE CANADIAN PRESS
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Monday, 12 May 2008 |
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WINNIPEG - Manitoba Telecom Services Inc. (TSX:MBT) has reported a modest rise in first-quarter revenue and profit as wireless, high-speed Internet, digital television and other growth services expanded 18 per cent.
This more than offset a 1.1 per cent decline in local telephone service revenue and a 7.7 per cent shrinkage in long-distance revenue.
MTS said Friday its January-March net income was $54.2 million or 84 cents per share, compared with $52.9 million or 80 cents per share a year ago. Revenue rose to $478.8 million from $466.6 million.
So-called growth services accounted for $204.9 million of the latest quarter's revenue, 43 per cent of the total compared with 37 per cent a year ago.
"Double-digit gains for growth services combined with our continued success in achieving our cost reduction targets and stabilizing legacy services revenues were the key performance drivers for the quarter," stated chief financial officer Wayne Demkey.
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