Shaw posts 28% revenue increase, but continues to ship basic cable customers

Canadian triple-play cableco Shaw Communications has announced results for its fourth fiscal quarter and year ended 31 August 2011. Consolidated revenue for the three- and twelve-month periods of CAD1.18 billion (USD1.16 billion) and CAD4.74 billion, respectively, was up 26% and 28% over the comparable periods of the previous year. Total operating income before amortisation reached CAD476 million in the quarter and CAD2.03 billion annually, improving by 12% and 15% respectively. Net income from continuing operations of CAD166 million for the three-month period compared to CAD123 million in June-August 2010; the net annual figure stood at CAD562 million, up from CAD534 million. Shaw continued a trickling net loss of basic cable customers, which totalled 2.289 million at the end of August 2011, a reduction of 16,000 in three months. However, it maintained a slow but steady increase in cable broadband internet users – up by 13,500 to 1.877 million in the quarter – and digital cable telephony subscribers, which grew by 22,800 to 1.233 million.