Cogeco reverses loss, quarterly sales up 18.5%

15 Jan 2009

Montreal-based cableco Cogeco has reported net profit for the first quarter of fiscal 2008/09 of CAD1.1 million (USD897 million), a year after it posted a quarterly loss of CAD10 million. Revenues rose 18.5% year-on-year to CAD308.4 million for the quarter ended 30 November 2008, up from a year-earlier figure of CAD260.3 million, Cogeco said. The top-line increase came as acquisitions in the cable division helped push operating costs up 14.7% to CAD83.7 million.

Canada, Cogeco Connexion