Canadian telco Telus records 45% drop in Q4 profits

www.WirelessFederation.com/news: Fourth quarter 2009 financial results has been released by Canadian telecoms network operator, Telus Corp which showed a slight decrease of CA$11 million in the revenue. The fall reflects continued declines in traditional voice services, which offset growth in data and wireless revenues.

EBITDA decreased by 16 per cent because of higher restructuring costs from ongoing operating efficiency initiatives and higher defined benefit pension plan expenses.

Net income for the quarter also decreased from CA$253 million for the same period a year ago to CA$146 million. Wireless ARPU declined by 7.7% to $57.38 compared to the same quarter a year ago. Meanwhile, TELUS added 105,000 net new customer connections in the fourth quarter.

According to Darren Entwistle, TELUS president and CEO, there is no question that the last year was a challenging one economically, but also one where the company progressed game-changing capital projects and made significant investments in operational efficiency to improve the cost structure