Cogeco reports fiscal Q1 results

Canada’s Cogeco Cable has announced its financial results for its first quarter of fiscal 2013, ended 30 November 2012. When compared to the first quarter of fiscal 2012, revenue increased by 4% to reach CAD327.9 million (USD333.1 million), operating income before depreciation and amortisation (OIBDA) increased by 11.6% to CAD147.1 million, and net profit amounted to CAD42.2 million, compared to CAD43.0 million in the year-ago quarter. Profit was affected by acquisition costs related to the purchase of US company Atlantic Broadband, an increase in income taxes, and 2012’s boost in profits from the disposition of the group’s Portuguese subsidiary. Cogeco reported a group total of 817,019 broadband customers at 30 November 2012, including 645,379 in Canada and 171,640 in the US, and noted that the Canadian figure fell by 2,076 in the quarter. Fixed telephony customers under Cogeco’s control stood at a total of 556,425 at the same date, including 477,795 in Canada (up by 6,311 in three months) and 78,630 in the US. Cogeco’s television subscribers totaled 1.984 million in Canada at the end of the quarter, up by 15,080, with 494,674 TV customers served in the US.