Canada’s IT and communication sectors should see a combined 29 per cent profit increase before this year is done, according to the Conference Board of Canada. But the group also says technological advances and new competitive pressures could impact the industry’s long-term outlook.
The Conference Board, a non-profit organization specializing in economic trends and public policy issues, said IT and communication profits are rebounding after the dark days of 2001, a time the groups calls a “tech wreck” of plummeting revenues and margins.
Conference Board’s top Canadian IT firms by revenue ($ millions)
“This recovery is occurring in spite of a very weak price outlook for much of the industry, as a result of rapid technological change and strong competitive pressures,” said Louis Th