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File photo of Louis Audet, President and Chief Executive Officer of COGECO Inc. (Fred Lum/Fred Lum/The Globe and Mail)
File photo of Louis Audet, President and Chief Executive Officer of COGECO Inc. (Fred Lum/Fred Lum/The Globe and Mail)

Cogeco Inc. profit grows 20% Add to ...

Cogeco Inc. increased its first-quarter profit by 20 per cent as the Montreal-based company’s cable, Internet and radio businesses improved revenue.

Cogeco’s profit for the three-month period was $47.9-million, up from $39.8-million in the first quarter of fiscal 2011.

Of that, $18.8-million was attributable to shareholders of the corporation, or $1.12 per share – up from $16.4-million or 98 cents per share a year earlier.

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Overall revenue rose 13.4 per cent to $387.5-million, up from $341.7-million.

Cogeco’s cable and Internet division contributed the biggest share of revenue, which rose by $26.5-million or 8 per cent to $356.9-million.

Its radio division improved revenue by $19.4-million to reach $30.6-million, mostly as a result of Cogeco’s acquisition of the former Corus stations in Quebec.



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