Cogeco reports fourth-quarter profit edges lower, revenue up from year ago
Posted Oct 28, 2020 5:56 am.
Last Updated Oct 28, 2020 6:22 am.
MONTREAL — Cogeco Inc. reported its fourth-quarter profit edged lower compared with a year ago as revenue crept higher.
The company says it earned a profit attributable to owners of the corporation of $30.7 million or $1.92 per diluted share for the quarter ended Aug. 31, down from $31.4 million or $1.93 per diluted share a year ago.
Revenue in the quarter totalled $624.2 million, up from $610.5 million.
The Montreal-based communications and media group has been fending off an unwanted takeover that would split its Canadian and U.S. operations between two buyers, Altice USA and Rogers Communications.
Cogeco owns French-language radio stations and other media businesses in Quebec, but its main operation is a controlling interest in Cogeco Communications Inc.
Cogeco Communications earned a profit attributable to owners of the corporation of $90.8 million or $1.88 per diluted share on $605.2 million in revenue for the quarter ended Aug. 31. The result was up from a profit of $89.8 million or $1.80 per diluted share on $583.7 million in revenue in the same period a year earlier.
This report by The Canadian Press was first published Oct. 28, 2020.
Companies in this story: (TSX:CCA, TSX:CGO, TSX:RCI.B)
The Canadian Press
