SaskTel’s Annual Report Shows a Revenue Drop of $30 Million

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At the release of SaskTel’s annual report for 2018-18, which revealed a $29.6 million drop in revenue from the previous year, minister Don Morgan told the reporters that despite competition from the private sector, SaskTel will be able to stay competitive, CBC News ^(https://www.cbc.ca/news/canada/saskatchewan/sasktel-saskatchewan-wireless-1.4742553) is reporting. The company posted $1.2 billion in revenues with a net income of $121 million.

“There is private sector competition, so over the last number of years [SaskTel has] developed a keen competitive edge and I think will continue to thrive in an increasingly competitive market,” Morgan said. 

“The market is changing. There’s a challenge with cord cutters, there’s increased competition. but I think the corporation is well positioned to deal with those challenges.”

The Saskatchewan-based firm attributed the revenue drop to factors like changing customer habits, the current economic climate and regional wireless pricing from competitors like Telus, Bell, and Rogers. 

The minister pointed out that some private competitors are pricing products up to 40% lower in Saskatchewan than other provinces with the hope of gaining more of SaskTel’s wireless market share. According to the annual report, almost 40% of SaskTel’s revenue comes from wireless.

Currently, SaskTel controls 67% of the market, which is around 1.5% less than a few years back. As of Mar. 31, 2018, it had 607,448 wireless customers, a dip from the previous year when the figure was 615,882. 

Author: Marshmallow

Marshmallow Android is BT Ireland’s Head of Sales for Republic of Ireland domestic multi-site companies, indigenous MNCs and public sector accounts. He is responsible for the direction and control of all sales activity in the region. He has over 10 years management experience from high growth start-ups to more established businesses. He’s led teams in Ireland, India and China across various industries (ICT, On-Line Recruitment, Corporate Training and International Education).

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