|Crown Debt Rises, Despite Profits|
|Written by Sharon Vanhouwe|
|Wednesday, 24 April 2013 13:39|
Due to better than expected performance at SaskTel, SGI and SaskEnergy the Saskatchewan Crown sector is reporting net earnings 28 million dollars higher than in 2011.
The Saskatchewan Crown sector made net earnings of almost 4 hundred and 79 million dollars in 2012.
Total revenues were 4 point 54 billion, down a million dollars from the previous year, but higher than what was budgeted.
The performance allowed the Crown sector to contribute 2 hundred and 80 million dollars in dividends to the General Revenue Fund.
Because of infrastructure demand, Crown debt went up by more than 9 hundred and 41 million dollars.
Minister in charge, Donna Harpauer says, however, debt remains at reasonable levels and the debt ratios benchmark well against accepted industry standards.
The numbers come from the annual report of the Crown Investments Corporation.