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SaskTel enjoys strong fiscal year

SaskTel reported net income of $127.4 million for 2018-19
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Earlier today, SaskTel released its annual report for the 2018-19 fiscal year ended March 31, 2019. 

SaskTel reported net income of $127.4 million, up from $121 million in 2017-18.

In a press release, SaskTel partly attributed its net income to increased wireless adoption and a resurgence in internet growth because of the company’s fibre optic network. 

“As Saskatchewan’s leading information and communications technology (ICT) company, we’ve embraced a digital transformation strategy that sees us continue to modernize our systems, reduce costs, and find new ways to serve our customers better,” SaskTel president and CEO Doug Burnett said in a press release.  

“To remain successful, SaskTel will focus on delivering an outstanding customer experience, evolving our existing products, developing new IP-based products and managed services, and providing professional services that will help customers implement solutions for their ICT requirements.”

SaskTel’s revenue is composed primarily of wireless (41.4 per cent); maxTV service, internet, and data (28.8 per cent); local access, enhanced services, and long distance (17.2 per cent). 

SaskTel invested an additional $268.2 million in capital expenditures during 2018-19, which includes the Fibre to the Premises program, investments in LTE and Wi-Fi, and network improvements.

You can read the full 2018-19 annual report online.

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