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Feb 11 (Reuters) - Telus Corp T.TO , one of Canada's three
big telecoms providers, reported a 16 percent fall in quarterly
profit, hurt by increased competition and slower demand in its
wireless business.
The company, which competes for wireless customers across
the country against Rogers Communications Inc RCIb.TO and BCE
Inc BCE.TO , said it added 62,000 net postpaid wireless
customers, a key metric, in the quarter, a decrease of 56,000.
The decrease reflects the economic slowdown, particularly in
Alberta, increased competition, higher handset prices causing
slower demand, Telus said on Thursday.
In the same period, market leader Rogers said it added
31,000 such customers and BCE signed up 91,000, with both
companies noting the heightened intensity of competition.
Net income fell to C$261 million, or 44 Canadian cents per
share, in the fourth quarter ended Dec. 31, from C$312 million,
or 51 Canadian cents per share, a year earlier.
Excluding one-time items, the company earned 54 Canadian
cents per basic share.
Vancouver-based Telus' operating revenue rose to C$3.22
billion from C$3.13 billion. Wireless network revenue rose 3
percent to C$1.6 billion.