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News from Reuters

Telus posts lower first-quarter profit

03/05/06

OTTAWA (Reuters) - Telus Corp. , Canada's No. 2 phone company, said on Wednesday that first-quarter earnings dropped 13 percent from year-before results swollen by hefty one-time gains, despite sturdy growth in its wireless operations.

The company said its net income fell to C$210.1 million ($189.3 million), or 60 Canadian cents a share, for the period ended March 31.

That compares with year-earlier earnings of C$242.2 million, or 66 cents a share. Those results were lifted by a tax adjustment of 15 Canadian cents a share and regulatory decision impact of 2 Canadian cents a share.

($1=$1.11 Canadian)

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