Telus Q4 profits fall 69% on one-time restructuring charge

VANCOUVER – Despite subscriber growth in both wireless and wireline operations, Telus saw fourth quarter profits plunge 69%, the company reported Thursday.For the period ended December 31, net income fell to $87 million from $261 million year-over-year, impacted by higher restructuring and others costs, primarily reflecting a $305 million one-time “transformative compensation expense” made to employees. When excluding restructuring and other costs, net gains and equity income from real estate joint venture developments, and favourable income tax-related adjustments, adjusted net income dipped 2.5%.Consolidated operating revenue increased 2.7% to $3.3 billion over the same period a year ago, reflecting higher data...