Portugal, triple play boost Cogeco
EmptyTORONTO -- Canada's Cogeco Cable on Monday said it more than doubled its third-quarter earnings on growing business in Canada and Portugal.
The Montreal-based cabler posted earnings of CAN$20.4 million ($19.2 million) for the three months ending May 31, on revenues of CAN$240.6 million ($226.4 million), compared with earnings of CAN$12.4 million on revenue of CAN$153 million in 2006.
"We're just very fortunate that this industry is going through a wonderful period that it's going through today," Cogeco CEO Louis Audet told financial analysts during a conference call.
Cogeco recently began supplying cable services in Portugal after paying CAN$656 million to purchase Portugal's Cabovisao-Televisao por Cabo from parent Cable Satisfaction International Inc.
But the surging revenue also came from introducing a triple play offering of cable TV, Internet and phone services to customers in Ontario and Quebec.