Telus targets 10% growth in share profit

Telus Corp. said yesterday that it is shooting for up to 10-per-cent growth in its share profit in 2009 - excluding tax adjustments - and is counting on a national wireless and data growth strategy to get it to the bull's eye, even with a sharp hike in planned capital spending. The Vancouver telecommunications company said this would translate to profit between $3.40 and $3.70 a share, compared with the $3.30 to $3.45 it is forecasting for 2008, according to its latest guidance to investors. Telus also said it expects to generate the fatter profit on revenue that is 4 to 6 per cent higher at as much as $10.27-billion, with earnings before interest, taxes, depreciation and amortization rising to as much as $3.9-billion, up 4 per cent. "The 2009 targets ... reflect an overall trend of building on strength," Robert McFarlane, the company's chief financial officer, said in a release. T (TSX) fell 10 cents to $34.03.