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| IT profits to jump in 2006 |
December 7, 2006 |
Profits in Canada’s information technology and communications (ITC) industry are expected to be the highest since 1998, according to the Conference Board’s latest Canadian Industrial Outlook for the sector. Its report predicted a 20 per cent jump this year.
“The 20 per cent increase in industry profits this year is a carryover of a strong expansion in 2005,” said senior economist Michael Burt. “Although production growth is forecast to slow this year, the industry is expected to make solid gains through 2010. Demand is strong for ITC products and services from businesses and consumers. The convergence of cable and traditional telecommunications services is driving continued investment in equipment and product innovation.”
The market in telecommunications continues to shift from wired to wireless services, and prices are still declining, although at a slower rate than in previous years.
Industry profits are expected to reach $5.4 billion in 2006. With a recovery in production growth expected in 2007, profits are expected to be just less than $6 billion. Modest improvements in pricing power and costs that rise at a slower rate than revenues will drive profit gains through 2010.
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