Bell Aliant has posted a higher second-quarter profit of $72-million, but revenue for the regional telecom company dipped in the quarter.
The Halifax-based company earned 32 cents per share in the quarter. That compares with net earnings of $66-million, or 29 cents per share, in the same quarter of 2013.
Revenues were down 1.3 per cent at $683-million from $692-million year-over-year.
While Bell Aliant had growth in its Internet, TV and wireless revenues, it was offset by declines in local and long distance and other services.
Adjusted earnings per share were 39 cents in the quarter, unchanged from the same quarter last year.
BCE Inc., Canada’s biggest telecom, recently announced it’s taking full ownership of Bell Aliant through a $3.95-billion deal.
BCE Inc. (TSX:BCE) already owns 44 per cent of Bell Aliant and has said Bell Aliant will maintain its separate identity with customers and remain a regional affiliate of the Montreal-based parent company. However, things like billing and product development will be integrated to reduce expenses if the deal is completed as expected by the end of November.
Bell Aliant will continue to serve customers in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island as well as its regional telecom operations in parts of Ontario and Quebec – primarily outside the major cities served by Bell Canada.
As part of the BCE privatization offer, Bell Aliant said the quarterly dividend on common shares that would otherwise have been payable on Oct. 6, will not be paid by Bell Aliant.
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