Canada's Telus Posts 13% Rise in Quarterly Profits

Published on: 9th May 2013

?Canada's Telus has reported a near 5 percent increase in its first quarter revenues, and a 13.5 percent rise in its profits.

Revenue increased by nearly five percent to C$2.76 billion from a year earlier. The increase in consolidated revenue was generated by greater than six percent growth in wireless revenue and almost three percent growth in wireline revenue.

Net profit came in at C$362 million, a rise of 13.5 percent over the previous year. Consolidated EBITDA growth reflects seven percent higher wireless EBITDA and two percent higher wireline EBITDA.

The company added 59,000 postpaid wireless customers, 34,000 TV subscribers and 16,000 high-speed Internet customers, partially offsetting losses of prepaid wireless customers, and landlines.

Telus' total wireless base of 7.7 million is up nearly five percent year-over-year, the Telus TV subscriber base of 712,000 is up 29 percent, and the high-speed Internet connections are up nearly seven percent to more than 1.3 million.

Darren Entwistle, Telus President and CEO said "Telus realised strong first quarter results driven by our company's revenue and EBITDA growth in both the wireline and wireless segments of our business."

Telus has reaffirmed its full year 2013 targets on all eight financial metrics announced in mid-February.

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