Shaw posts 3% increase in twelve-month revenue, net profit

25 Oct 2013

Canadian cableco Shaw Communications has announced its financial and operating results for its fiscal fourth quarter and year ended 31 August 2013. Consolidated revenue for the three- and twelve-month periods of CAD1.25 billion (USD1.21 billion) and CAD5.14 billion, respectively, were each up 3% over the comparable periods last year. Quarterly total operating income before amortisation of CAD496 million was down from CAD501 million in the corresponding quarter of the previous year, while full-year operating income was up by over 4% to CAD2.22 billion. Net income was CAD117 million for the quarter, down from CAD133 million a year earlier, while on an annual basis net income increased 3% over the previous fiscal year to CAD784 million.

Revenue in the Cable division (excludes satellite operations) of CAD818 million and CAD3.27 billion for the three- and twelve-month periods, respectively, each improved 2% over the year-ago periods, while cable-only operating income before amortisation for the quarter of CAD396 million was virtually flat compared with the same quarter last year, while in the twelve-month period the figure improved 5% to CAD1.58 billion. Cable TV customers shrank by 109,500 in twelve months to 2.04 million at 31 August 2013, while in the same period cable broadband internet subscribers increased by 28,000 to 1.89 million and cable fixed telephony lines in service grew by 52,000 to 1.36 million.

The company highlighted its continued investments in various technologies, including expansion of the ‘Shaw Go’ Wi-Fi network – now with over 20,000 locations; additional apps supporting its ‘TV everywhere’ multi-platform service with the launch of ‘Global Go’; and the Anik G1 satellite launch plus the addition of over 140 new channels at its satellite TV division Shaw Direct. As at 31 August 2013 direct-to-home (DTH) customers totalled 903,500, down by 6,500 year-on-year.

Canada, Shaw Communications