Cogeco Revenue, Profit Rise In First Fiscal Quarter 2015
January 15, 2015 at 3:57 AM (PT)
COGECO INC., parent of Canadian radio group COGECO DIFFUSION, saw its first fiscal quarter 2015 revenue rise 4.1% to C$538.4 million, with a 15% increase in profit to C$65.4 million. The increases were attributed to growth in the company's Cable and Enterprise data services segment and organic growth for most of its other segments, plus favorable foreign exchange rates. The company also declared a quarterly dividend of 25 1/2 cents per share, payable FEBRUARY 10th. Financial details for the radio operations were not broken out.
President/CEO LOUIS AUDET said, “I am delighted to report solid financial results for the first quarter of fiscal year 2015, as we continue to show our ability to grow profitably in a context of intense competition, changing market dynamics and rapid technology advances.... At COGECO DIFFUSION, we are continuing to focus on providing our advertisers with compelling and innovative platforms. We’ve done this both in our radio business by maintaining excellent ratings and at COGECO MEÌTROMEÌDIA by evolving our network of display advertising.
“We have begun our fiscal year with a strong performance and I am confident that COGECO will continue on its growth path and deliver on its 2015 projections."