Bell Aliant’s revenues held up by data and internet growth

5 Feb 2007

Bell Aliant Regional Communications Income Fund (Bell Aliant) has posted operating revenues of CAD852.2 million (USD720 million) for the fourth quarter of 2006, up by 2% on a prof forma basis over the same period last year, producing net income of CAD163.1 million. Strong growth in internet and information technology revenues outpaced declines in local and long distance turnover. Quarterly data and internet revenues were CAD169.8 million, a year-on-year increase of 5.7%, led by internet sales growth of 17.5% and broadband subscriber growth of 23.9%. High speed customers reached a total of 588,200 at the end of December, up from 474,600 a year earlier (pro forma). Annual local telephony revenues saw a 1.5% decrease. At the end of December Bell Aliant had 3.309 million local telephony subscribers, down by 2% (pro forma) year-on-year.

For the full year, Bell Aliant reported pro forma revenue of CAD3.4 billion, up 1.5% over 2005, and EBITDA of CAD1.5 billion, an increase of 0.4%. ‘We have achieved our targets for 2006,’ stated CEO Stephen Wetmore, adding that ‘our strategy of focusing on customer service and regional markets, with a strong presence in the communities we serve, is producing positive results.’ The company also announced the delisting of its subsidiary Bell Nordiq, the holding vehicle for regional telcos Télébec and NorthernTel. Bell Nordiq ceased trading on the Toronto Stock Exchange at close of business on 29 January.

Canada, Bell Aliant (old)