Corus Projects Profit Increase In Fiscal 2013
November 29, 2012 at 7:53 AM (PT)
CORUS ENTERTAINMENT INC. has issued guidance for fiscal 2013 that includes increased consolidated segment profits of between C$293 million to C$303 million, up from 2012's C$290 million. It expects free cash flow to decline from 2012's C$155.1 million to over C$140 million.
“Our powerful brands and continued focus on operational excellence and cost control gives us confidence that we can continue to drive strong Television and Radio margins in fiscal 2013,” said Pres./CEO JOHN CASSADAY. “For fiscal 2013, we are targeting consolidated segment profit of $293 million to $303 million and free cash flow in excess of $140 million. We will continue to build our newer television service offerings, such as ABC SPARK and OPRAH WINFREY NETWORK, introduce new and innovative products, maintain our focus on generating sustainable free cash flow and return cash to our shareholders."