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Cogeco Inc. CGO-T reported its first-quarter profit fell compared with a year earlier as its revenue also edged lower.

The company reported a profit attributable to owners of the corporation of $34.5-million or $2.21 per diluted share for the quarter ended Nov. 30.

The result was down from a profit of $42.1-million or $2.67 per diluted share in the same period a year earlier.

Revenue for the quarter totalled $776.2-million, down from $789.7-million a year earlier.

On an adjusted basis, Cogeco says it earned $2.57 per diluted share in its latest quarter, down from an adjusted profit of $2.71 per diluted a year earlier.

Cogeco provides internet, video and phone services through its Cogeco Communications Inc. CCA-T subsidiary, while Cogeco Media owns and operates 21 radio stations primarily in Quebec.

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