Bell Aliant’s revenues down 2.6%, EBITDA up slightly

Atlantic Canada-based telco Bell Aliant has posted a slight fall in net profit in the third quarter of 2009 to CAD74.3 million (USD70.4 million), down marginally from CAD75 million the previous year, on revenues that fell by 2.6% to CAD786 million from CAD807 million in 3Q08. Nevertheless, the Halifax-based firm recorded a year-on-year rise in EBITDA to CAD375 million (CAD371 million previously). A statement from the company said that the fall in overall turnover reflected declines in local access and long-distance telephony revenues, whilst it also booked a CAD13 million restructuring charge for severance and other costs of implementing a plan to consolidate its Atlantic call centres. ‘I am very satisfied with our overall progress this quarter, where despite continued economic and competitive pressures, we have again produced solid EBITDA and distributable cash results through continued cost management and operational improvements,’ said Karen Sheriff, Bell Aliant’s president and CEO.