Aliant posts net income rise

28 Jul 2006

Canadian regional telco Aliant’s net income rose 6.9% on a revenue gain of 3.7% in the second quarter of 2006, according to its last financial report prior to its reorganisation into Bell Aliant Regional Communications Inc. Atlantic Canada’s biggest telecom company, which has now inherited parts of Bell Canada’s and Bell Nordiq’s businesses in rural areas of Ontario and Quebec, earned CAD53.2 million (USD46.9 million) on turnover of CAD534.3 million, up from profits of CAD49.8 million and turnover of CAD515.3 million in the second quarter of 2005. 2Q revenues at Aliant’s fixed telecoms division were up 4% compared to the same quarter last year; internet revenues grew 20% and mobile turnover was up 15.4% year-on-year. ‘Aliant’s second quarter results provide us with a solid foundation to transition to the new income trust structure,’ said Glen LeBlanc, who was formerly Aliant’s chief financial officer and who is currently CFO of Bell Aliant. Bell Aliant was created on 7 July by Aliant and its majority shareholder, BCE Inc. As part of the deal, Aliant transferred its wireless networks operations and its DownEast retail stores to Bell Canada, a wholly owned subsidiary of BCE Inc. Bell Aliant has 3.4 million local access lines and over 400,000 high speed internet subscribers in the Atlantic provinces, Ontario and Quebec.

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