Canadian cableco Cogeco Cable has announced its financial results for its fiscal second quarter and first six months ended 29 February 2008, including domestic operations and its Portuguese cable subsidiary Cabovisao. For the second quarter and first six months of fiscal 2008: group revenue increased by 14.3% to CAD265.1 million (USD260.4 million) and by 13.9% to CAD516.9 million, respectively; consolidated net income amounted to CAD49.9 million, up by CAD34.5 million, in the quarter, and up by CAD42.3 million to CAD70.3 million in the first six months. Canadian quarterly revenues rose 17.3% to CAD205.2 million whilst domestic three-month OIBDA increased by 29.2% to CAD86.5 million. Cogeco’s Canadian high speed internet subscribers increased by 15,058 in the most recent quarter (40,352 in six months) to 456,188 at the end of February, whilst its telephony customer base grew by 16,201 (39,416) to 183,052; basic cable TV customers stood at 859,090 at the end of the period. Since December 2007 Cogeco has expanded its cable telephony services to eight additional towns in Ontario and six further towns in Quebec.
Cogeco’s wholly-owned unit Cabovisao, Portugal’s second-largest cable network operator, finished February 2008 with 165,925 high speed internet users (up by 2,096 in the quarter), 244,959 telephony customers (up by 369) and 301,660 basic cable TV users.