Cogeco Q3 earnings up
Canadian cable, b'cast group sees 11% revenue hikeTORONTO -- Canadian cable and broadcast group Cogeco on Friday posted higher third quarter earnings on improved cable subscription and radio airtime sales.
Montreal-based Cogeco recorded a profit of CAN$10.5 million ($9 million) for the three months to May 31, against a year-earlier profit of CAN$9.5 million. Revenue rose 11% to CAN$316.3 million ($272 million), from CAN$283.8-million in 2008.
The profit rise came despite a drop in the number of basic cable subscribers, especially at Cabovisao, the group's struggling cable operation in Portugal.