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Rogers’ 1Q sales up 4%, profit falls 9%

27 Apr 2011

Canadian quadruple-play operator Rogers Communications has posted a 4% year-on-year increase in consolidated revenues to CAD2.99 billion (USD3.14 billion) in the three months ended 31 March 2011, although net profit fell 9% to CAD335 million despite a 2% rise in operating profit to CAD1.14 billion. For the first quarter of 2011 Rogers’ mobile turnover grew 3% year-on-year, while its Cable division (including TV, broadband and telephony operations) also saw revenue growth of 3%, and Media operations increased sales by 17%. Nadir Mohamed, Rogers’ CEO, said that the results represented a ‘healthy start to 2011’, adding that: ‘We’ve maintained solid top line growth rates as a result of continued investments in our customer relationships, networks and products supported by a sharp focus on wireless data and subscriber retention initiatives. While at the same time, our successful focus on managing costs has enabled continued strong margins.’ The group reported that adjusted net income rose by 7% y-o-y in 1Q11 to CAD423 million, representing a value which is used by management to assess business performance and in making decisions regarding the ongoing operations.

Looking specifically at Rogers’ cellular operations, first-quarter wireless data revenue growth reached 30% year-on-year, and data services accounted for 34% of total wireless network revenue in the period. During 1Q11, the operator activated and upgraded 534,000 additional smartphones – of which approximately 36% were for new subscribers – compared to 348,000 in 1Q10; this also represented the company’s largest quarterly addition of new smartphone subscribers to date. Smartphone owners accounted for 45% of Rogers’ overall post-paid mobile subscriber base at 31 March 2011, compared to 33% twelve months earlier.

Canada, Rogers Communications

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