Corus Entertainment Inc. says acquisitions helped it achieve record-high first-quarter revenue but profit was down from the same time last year.
The company's television segment accounted for the revenue growth, which offset a decline in the radio business.
Corus television's segment profit also increased but not enough to offset a lower profit from radio.
Overall, the company had $51.9-million of net income and adjusted earnings, or 60 cents per share, in the quarter ended Nov. 30.
That compared with $55.2-million of adjusted earnings (65 cents per share) and $150.9-million ($1.78 per share) of net income in the first quarter of fiscal 2014, which included several unusual items.
The Toronto-based company also announced Tuesday that its annual dividend will increase by five cents, to $1.14 per class B share and $1.135 per class A share.