Canadian telecommunications operator, Telus Corp., expects to achieve a 10% increase in profits next year, the company said in an annual report to investors.

The Burnaby, B.C.-based carrier is projecting 2009 earnings of between $3.40 and $3.70 per share (up about 10%, excluding tax adjustments), while total revenue is expected to increase between 4% and 6%.

Telus’ main driver of revenue growth will be its wireless division, which already accounts for about half of the company’s revenue. Continued interest in mobile data services on high-end smartphones is expected to further increase revenue from this business.

“We’re a fairly rare combination of things right now,” said Telus CFO, Robert Mcfarlane, in a telephone interview. “We’re a growth company relatively resistant to downward swings in the economy. A lot of our products are not discretionary because people are reluctant to give up their cellphones and Internet connections.”

Mcfarlane did not rule out further job cuts at Telus, however, as the company’s fixed-line residential telephone business continues to decline, just like most landline carriers in North America. “Restructuring activities is a fact of life currently at Telus and will continue to be for the foreseeable future,” he said.