Telecom profits to top $7.5B in 2010, but could drop next year: report

OTTAWA - Even in a weak economic recovery, profits in Canada's telecommunications have remained strong thanks to cost control and demand for new technologies, says a new report from The Conference Board of Canada.The report, Canadian Industrial Outlook: Canada's Telecommunications Industry - Autumn 2010, predicts that industry profits will grow 11.6% to $7.5 billion in 2010, building on a 5.6% increase in 2009."The sluggish economic recovery made it harder for telecom providers to attract new clients or convince existing customers to expand their service," said economist and report author, Maxim Armstrong, in a press release. "However, lower costs and continued demand...