August 5, 2011 / 11:20 AM / 7 years ago

UPDATE 1-Manitoba Telecom posts higher profit on wireless, broadband growth

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AUG 5 - Canada’s Manitoba Telecom Services Inc reported a higher quarterly profit, driven by strong growth in wireless and broadband and lower expenses, and raised its outlook for the year.

For the second quarter, the regional communications company earned 76 Canadian cents a share, compared with 54 Canadian cents a share, a year ago.

Revenue was nearly flat at C$443.7 million ($455.0 million), compared with C$442.9 million, a year ago. Wireless, high-speed Internet and IP TV revenue together increased by nearly 10 percent year over year, the company said.

For 2011, the company expects earnings of C$2.40-C$2.80 per share, up from its prior earnings view of C$2.00-C$2.45 per share.

The company now sees 2011 revenue of C$1.70-C$1.78 billion, up from its earlier forecast of C$1.67-C$1.77 billion.

“More customers are upgrading to higher value services, such as smart phones with larger data plans, higher-speed Internet plans and our premium Ultimate TV service,” said Kelvin Shepherd, president of MTS. ($1 = 0.975 Canadian Dollars) (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Saumyadeb Chakrabarty)

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