Canadian telecom provider Telus Corporation has reported a 28.3% increase in its net profit for third quarter ended September 2007. The company’s net profit for the quarter was $433.3m against $337.8m profit last year. It attributed this performance to the continued growth in both wireless and wireline segments.
Telus’ total revenue for third quarter 2007 was $2.4 billion compared with $2.3 billion for the prior year. The company also reported a 3.6% increase in its year-on-year EBITDA, which increased to $1billion in third quarter.
The company generated operating profit of $617.8m and EPS of $1.3 for third quarter compared to $601.6m and $1 reported last year. The company reported that its free cash flow declined by 3% to $531.7m due to irregular timing of cash interest payments and higher wireless capital expenditures.
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, said Darren Entwistle, president and chief executive at Telus.
The company decreased its previous forecast which estimated its 2007 revenues to be $9.8 billion. It reiterated its 2007 guidance with revenues to be between $9.6 billion and $9.7 billion. It also expects adjusted EBITDA to be between $3.9 to $4 billion and adjusted EPS as $3.8-$3.9.
The company’s competitor Bell Aliant reported revenues of $892.9m in the third quarter 2007, which represents a 1.6% increase over the same period last year. Another competitor MTS reported revenues of $507.1m, a decline of 0.4% over last year.
Source: ComputerWire daily updates