MONTREAL, Aug. 7, 2024 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Company"), a leading Canadian digital media and marketing company, released its operating and financial results today for the quarter and six-months ended June 30, 2024. "We are pleased with our second quarter results, which reflect our continuing progress toward revenue stability, good profitability and a healthy cash balance, all despite continued headwinds in the global economy and, particularly, the Canadian small business sector," said David A. Eckert, President and CEO of Yellow Pages Limited. Eckert commented on the key developments: Continued climb toward revenue stability. "Although we continue to deal with the challenges of the current Canadian economic conditions, for the second consecutive quarter, we report a favorable 'bending of the revenue curve' in Q2, as our rate of change in revenue was better than the change reported for the previous quarter." Progress on revenue initiatives. "We are pleased with our progress on metrics underlying our revenue generation, including the size of our sales force and our rate of gaining new accounts, while maintaining a solid rate of customer churn. We are particularly pleased with our rate of gaining new accounts, which was 17% higher than last quarter. We believe these fundamentals bode well for our medium- and long-term future." Solid quarterly earnings. "Our Adjusted EBITDA2 for the quarter was 26.5% of revenue, even with our continued investments in revenue initiatives, including the steady continued expansion of our sales force." Healthy cash balance. "Our steady cash generation has grown cash on hand to approximately $34 million at the end of July." Pension plan funding on track. "Consistent with our deficit-reduction plan announced in May 2021, in the second quarter of 2024 we made $1.5 million of voluntary incremental payments toward our Defined Benefit Pension Plan's wind-up deficit." Quarterly dividend declared. "Our Board has declared a dividend of $0.25 per common share, to be paid on September 16, 2024 to shareholders of record as of August 26, 2024." Financial Highlights(In thousands of Canadian dollars, except percentage information and per share information)   Yellow Pages Limited For the three-month periodsended June 30, For the six-month periodsended June 30, 2024 2023 2024 2023 Revenues $55,838 $62,736 $110,809 $125,451 Adjusted EBITDA2 $14,770 $21,934 $30,067 $42,689 Adjusted EBITDA margin2 26.5 % 35.0 % 27.1 % 34.0 % Income before income taxes $10,421 $17,351 $21,790 $34,131 Net income $7,626 $12,731 $16,021 $25,119 Basic income per share $0.56 $0.72 $1.18 $1.41 Diluted income per share $0.55 $0.69 $1.16 $1.37 CAPEX