Canadian telco Manitoba’s Q4 profit drops

www.WirelessFederation.com/news: Lower net income in the final quarter of 2009 has been posted by Canadian Manitoba Telecom Services Inc. but the company maintained its dividend at 65 Canadian cents a share. Revenue fell to C$453 million from C$464 million a year earlier. The company’s full-year revenue from continuing operations was also down 2.3% while EBITDA was off 6.2%.

ccording to Manitoba Telecom, results were in line with its latest expectations, adding the growth-services assets reported a 4.7% revenue increase in the latest year and continue to increase in importance in its overall revenue mix.

2010 results of the company is expected in the line with 2009 results and in this year the projected overall earnings is C$2 to C$2.50 a share and revenue of C$1.78 billion to C$1.88 billion. Allstream is targeting an additional C$30 million to C$40 million in cost cuts in 2010.