Business

Telus to boost B.C. networks

Telus is planning to spend $670 million on its networks in British Columbia this year.

Telus said Monday that it is planning to spend $670 million on its British Columbia networks this year.

The company said it plans to lay "thousands" of kilometres of fibre-optic cable for its Optik TV and high-speed internet services, and plans 76 new cell sites. It's also introducing a technology called HSPA+ Dual Cell that is intended to improve wireless broadband service.

The announcement Monday appears to be an increase in capital spending. Last year, the company spent $564 million across the country, its 2010 year-end report said.

Telus valued its property, plant and equipment at $7.72 billion at the end of 2010.

Wireless and its internet TV have been important drivers in the company's revenue growth. By the end of 2010, it had 314,000 Optik TV customers in British Columbia, Alberta and Eastern Quebec. 

The company made profit of $1.09 billion ($3.22 a share) in 2010, compared with $1.06 billion ($3.14) in 2009. Revenue was $9.78 billion, compared with  $9.61 billion.