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Telus Reports 28% Increase in Third-Quarter Profit


05/11/2007

Western Canada’s leading telecom provider, Telus Corp., posted a 28% jump in third-quarter profits on Friday, thanks to continued growth in its wireless and broadband divisions.

The Vancouver-based company generated a net profit of $410 million, or $1.24/sher, in the summer quarter, compared to $319.6 million in the same three-month period a year earlier. The most recent results were bolstered by a $93 million tax gain, compared to a similar gain of $30 million in the year-ago quarter.

Telus Corp.’s revenues were up 4.5% in the third quarter to $2.3 billion, driven by 9% growth in both wireline broadband and mobile phone sales.

“The third-quarter results are a marked improvement compared to the second quarter due to Telus’s continued strength in wireless and data combined with improved efficiency of wireless marketing and retention,” commented the company’s president and CEO, Darren Entwistle.

Telus added 134,500 mobile phone subscribers in the third quarter, but failed to match the customer additions of leading rival, Rogers Wireless, which added 243,100 clients.



 

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