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Telus reports loss of profits, 9% V.J. | , 12:37 p.m. Aug. 9, 2009 2009-08-09

Telus Corp, one of Canada’s leading mobile phone operator has reported a 9% drop in second quarter profits to $236 million. In addition, revenues fell by 1%, over $2.2 million for the same period.

"The second quarter results continue to reflect the impacts of the recession on our western and nationally based businesses," said Darren Entwistle, TELUS president and CEO. "In light of moderating revenues, our solid progress on operational efficiency initiatives has helped mitigate the effect of current economic conditions and better position the organization for accelerated performance when the economy recovers."

Wireless subscribers additions were 111,000, a decrease of 37 percent from the same period a year ago but more than double the 48,000 added in the first quarter, writes Cellular News. Postpaid net additions of 95,000 represents 86 percent of the total net additions.

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