Shaw’s EBITDA climbs 4.2% in fiscal 4Q

Western Canadian cableco Shaw Communications has reported that net profit in its fiscal fourth quarter ended 31 August 2012 dropped by 20.4% year-on-year to CAD133 million (USD133.4 million), compared to CAD167 million in the same period of 2011, as competition from cable and wireline rivals intensified. However, the triple-play operator’s quarterly EBITDA rose by 4.2% to CAD501 million, helped by the group’s satellite and media businesses outperforming its cable division. Cable-only revenue increased by 2% to CAD803 million, mainly due to Shaw charging higher rates, while consolidated revenue climbed 3% to CAD1.21 billion; cable operating income was virtually flat year-on-year at CAD396 million. Total basic cable subscribers declined by 16,000 in a year to 2.219 million customers at the end of August 2012, while cable broadband subscribers increased by 35,000 year-on-year to 1.912 million, and fixed telephony users grew by 130,000 to 1.364 million.