Dec 01, 2020
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Cogeco Cable Q4 profit triples

MONTREAL (CP) _ Cogeco Cable Inc. (TSX:CCA) says its fourth-quarter profit tripled to $34 million as revenue rose 25 per cent after the acquisition of a Portuguese cable TV system. Net income for the quarter ended Aug. 31, earnings amounted to 85 cents a share and compared with 28 cents per share a year ago, the Montreal-based cable TV and telecom company reported Monday.

Analysts had, on average, been forecasting a profit of 41 cents per share, before one-time items, according to Thomson Financial. For the full year, earnings jumped 128 per cent to $65.6 million or $1.64 a share from a year-ago $28.7 million or 72 cents per share. Analysts had been expecting $1.16 a share.

"With the acquisition of Cabovisao Televisao por Cabo SA as a contributing factor, the number of revenue-generating units jumped from about 1,348,000 at the beginning of the fiscal year to approximately 2,185,000 at the end of August," CEO Louis Audet said in a release.

"The arrival of Cabovisao in our corporation … is very promising." He added that Cogeco is "in a very good position to sustain growth in Canada with more than 208,000 RGUs (revenue units) added to our base as a result of the positive impact of our digital telephony service and, with the well-trained and enthusiastic people in Portugal, who are working to grow our position in that market."

Quarterly revenue rose to $174.9 million from $140.2 million, while annual revenue rose 13 per cent to $620 million from $554.4 million. Parent company Cogeco Inc. (TSX:CGO), whose holdings include TV stations, reported a fourth-quarter profit of $10.3 million or 62 cents a share, up from $630,000 or four cents per share a year ago as revenue jumped 21 per cent to $199.4 million from $164.2 million. Analysts had been expecting a profit of four cents a share, before one-time items.

For the full year, Cogeco Inc. swung to a profit of $23.1 million or $1.40 a share, from a loss of $19.8 million or $1.21 per share in the previous year. Analysts had been expecting a profit of 79 cents a share. Full-year revenue rose about 11 per cent to $746.9 million from $675.6 million.

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Headline, Industry News

Cogeco Cable Q4 profit triples

MONTREAL (CP) _ Cogeco Cable Inc. (TSX:CCA) says its fourth-quarter profit tripled to $34 million as revenue rose 25 per cent after the acquisition of a Portuguese cable TV system. Net income for the quarter ended Aug. 31, earnings amounted to 85 cents a share and compared with 28 cents per share a year ago, the Montreal-based cable TV and telecom company reported Monday.

Analysts had, on average, been forecasting a profit of 41 cents per share, before one-time items, according to Thomson Financial. For the full year, earnings jumped 128 per cent to $65.6 million or $1.64 a share from a year-ago $28.7 million or 72 cents per share. Analysts had been expecting $1.16 a share.

"With the acquisition of Cabovisao Televisao por Cabo SA as a contributing factor, the number of revenue-generating units jumped from about 1,348,000 at the beginning of the fiscal year to approximately 2,185,000 at the end of August," CEO Louis Audet said in a release.

"The arrival of Cabovisao in our corporation … is very promising." He added that Cogeco is "in a very good position to sustain growth in Canada with more than 208,000 RGUs (revenue units) added to our base as a result of the positive impact of our digital telephony service and, with the well-trained and enthusiastic people in Portugal, who are working to grow our position in that market."

Quarterly revenue rose to $174.9 million from $140.2 million, while annual revenue rose 13 per cent to $620 million from $554.4 million. Parent company Cogeco Inc. (TSX:CGO), whose holdings include TV stations, reported a fourth-quarter profit of $10.3 million or 62 cents a share, up from $630,000 or four cents per share a year ago as revenue jumped 21 per cent to $199.4 million from $164.2 million. Analysts had been expecting a profit of four cents a share, before one-time items.

For the full year, Cogeco Inc. swung to a profit of $23.1 million or $1.40 a share, from a loss of $19.8 million or $1.21 per share in the previous year. Analysts had been expecting a profit of 79 cents a share. Full-year revenue rose about 11 per cent to $746.9 million from $675.6 million.

Leave a Reply

Your email address will not be published. Required fields are marked *

Headline, Industry News

Cogeco Cable Q4 profit triples

MONTREAL (CP) _ Cogeco Cable Inc. (TSX:CCA) says its fourth-quarter profit tripled to $34 million as revenue rose 25 per cent after the acquisition of a Portuguese cable TV system. Net income for the quarter ended Aug. 31, earnings amounted to 85 cents a share and compared with 28 cents per share a year ago, the Montreal-based cable TV and telecom company reported Monday.

Analysts had, on average, been forecasting a profit of 41 cents per share, before one-time items, according to Thomson Financial. For the full year, earnings jumped 128 per cent to $65.6 million or $1.64 a share from a year-ago $28.7 million or 72 cents per share. Analysts had been expecting $1.16 a share.

"With the acquisition of Cabovisao Televisao por Cabo SA as a contributing factor, the number of revenue-generating units jumped from about 1,348,000 at the beginning of the fiscal year to approximately 2,185,000 at the end of August," CEO Louis Audet said in a release.

"The arrival of Cabovisao in our corporation … is very promising." He added that Cogeco is "in a very good position to sustain growth in Canada with more than 208,000 RGUs (revenue units) added to our base as a result of the positive impact of our digital telephony service and, with the well-trained and enthusiastic people in Portugal, who are working to grow our position in that market."

Quarterly revenue rose to $174.9 million from $140.2 million, while annual revenue rose 13 per cent to $620 million from $554.4 million. Parent company Cogeco Inc. (TSX:CGO), whose holdings include TV stations, reported a fourth-quarter profit of $10.3 million or 62 cents a share, up from $630,000 or four cents per share a year ago as revenue jumped 21 per cent to $199.4 million from $164.2 million. Analysts had been expecting a profit of four cents a share, before one-time items.

For the full year, Cogeco Inc. swung to a profit of $23.1 million or $1.40 a share, from a loss of $19.8 million or $1.21 per share in the previous year. Analysts had been expecting a profit of 79 cents a share. Full-year revenue rose about 11 per cent to $746.9 million from $675.6 million.

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