MONTREAL — Cogeco Inc. reported its first-quarter profit rose compared with a year ago as its revenue also climbed.
The company says its profit attributable to owners of the corporation totalled $40.5 million or $2.53 per diluted share for the quarter ended Nov. 30, up from $31.3 million or $1.94 per diluted share a year earlier.
Revenue was $646.4 million, up from $618.5 million.
Cogeco owns radio broadcaster Cogeco Media as well as a controlling interest in Cogeco Communications Inc., a cable company with operations in Canada and the United States.
Cogeco Communications reported a profit attributable to owners of the corporation of $106.7 million or $2.22 per diluted share for the quarter ended Nov. 30, up from $84.2 million or $1.70 per diluted share a year earlier.
Revenue at Cogeco Communications totalled $618.9 million, up from $586.8 million.
This report by The Canadian Press was first published Jan. 15, 2021.
Companies in this story: (TSX:CGO, TSX:CCA)
The Canadian Press