Cogeco Cable’s fiscal 2008 results released

3 Nov 2008

Canadian triple-play cable operator Cogeco has announced its financial results for its fiscal fourth quarter and fiscal year ended 31 August 31 2008, including operations in Quebec and Ontario, and its Portuguese cable unit Cabovisao. Year-on-year, consolidated revenue increased by 16.6% to CAD284.9 million (USD205.6 million) in the quarter and by 14.7% to CAD1.077 billion in the twelve months, respectively; consolidated operating income before amortisation grew by 18.2% to reach a quarterly CAD121.1 million and by 20.1% to an annual figure of CAD445.4 million. Quarterly consolidated net income amounted to CAD31.9 million, compared to CAD36.4 million for the same period of the prior year, and in the fiscal 2008 year, group net profit grew by 57.4% to CAD133.3 million. Total revenue-generating units increased by 41,100 and 231,209 net additions in the quarter and year, respectively, to reach a total of 2,716,874 at 31 August 2008.

Cogeco’s Canadian high speed internet customers stood at 473,467 at the end of August, up by 57,631 in twelve months. Canadian telephony service users reached 219,601, up by 75,965 in the same period. In Portugal, broadband customers fell by a net 722 to 159,301, while telephony users were up by just 1,947 to 245,078.

Canada, Portugal, Cogeco Connexion, Nowo (formerly Cabovisao)