Shaw’s figures good, ignoring one-offs

16 Jul 2007

Canada’s second largest cable television provider, Shaw Communications, has reported results for its fiscal third quarter ended 31 May 2007. Net profit of CAD91.7 million (USD87.6 million) was down from CAD126.4 million in the same three-month period last year, but the previous figure was boosted by tax recoveries and the sale of a portfolio investment, which served to almost double the CAD63.9 million operating income. Excluding non-operating items, net income for the quarter ended May 2007 was CAD86.2 million, up by CAD22.3 million year-on-year. Revenue rose 12% year-on-year to CAD702.2 million. Shaw gained more than 3,000 basic cable subscribers to reach 2.2 million at the end of May, whilst adding 20,875 digital cable customers to total 747,400. The company added 51,100 digital phone lines in the quarter to reach a total of 343,750, and gained 27,875 cable internet subscribers for a total of 1.42 million.

Canada, Shaw Communications,

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