Telus to invest in Ont/Quebec? hmmm
https://www.thestar.com/Business/article/555032
VANCOUVER–Telecom giant Telus Corp. announced yesterday it plans to boost capital spending by 12 per cent next year to help it tap into opportunities in Canada's burgeoning wireless market.
In its financial outlook for 2009, Telus pegged capital spending at $2.05 billion, up from 2008 levels of $1.83 billion. Telus said $75 million of capital expenditures originally intended for 2008 have been deferred and counted in next year's number.
The firm said profits would likely remain flat from 2008 levels, estimating earnings at between $3.40 and $3.70 per share.
Excluding positive tax adjustments of 15 cents per share, however, Telus said earnings per share could jump by up to 10 per cent.
Buoyed by high expectations for the wireless market in 2009, Telus forecast next year's revenues would rise by between 4 per cent and 6 per cent to between $10.025 billion and about $10.275 billion. A spike in wireless customers and increasing smartphone use are expected to boost revenue from wireless services by between 8 per cent and 10 per cent, the company said.
"The 2009 targets announced today reflect an overall trend of building on strength," Telus chief financial officer Robert McFarlane said.
McFarlane said the company would increase its focus on Quebec and Ontario in 2009.
The company said the spending increase would be used in part to implement contracts in Central Canada as well as build up a national next-generation wireless network.
The Canadian Press