TELUS

annual report 2004

management's discussion & analysis

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management's discussion & analysis
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5. results from operations

5.1 selected annual information

The following selected three-year consolidated financial information has been derived from and should be read in conjunction with the audited Consolidated financial statements of TELUS for the year ended December 31, 2004, and its annual audited Consolidated financial statements for previous years. Certain comparative information has been restated on a basis consistent with the 2004 presentation.

Some significant changes over the three years included: