Shaw’s profits up 38% on digital phone and TV

14 Jan 2008

Shaw Communications, Canada’s second largest cableco, has reported that its net profit rose by 38% year-on-year in its fiscal first quarter ended 30 November 2007. Net income reached CAD112.2 million (USD109.9 million), compared to CAD81.1 million a year earlier, on revenues that increased by 11% year-on-year to CAD743.8 million. In the quarter, Shaw’s cable telephony subscriber base grew 13% to 436,000, as it continued to steal fixed line customers from telcos including Telus. Western Canada-based Shaw most recently expanded the Digital Phone service to Thunder Bay, Ontario, last week. ‘We expect this service to be available to 90% of our customers by the end of the fiscal 2008 [August]’, the company said in a statement. Shaw’s cable modem internet customers increased 2% in the most recent quarter to just under 1.5 million, whilst basic cable TV viewer numbers were flat at 2.2 million, but digital cable subscribers increased 5% to 803,000.

Canada, Shaw Communications