Canadian cable TV, broadband and telephony operator Cogeco Cable reported that at the end of its fiscal second quarter on 28 February 2014, 68% of its Canadian cable services customers subscribed to two or more of its services (67% in February 2013), including 32% double-play (30% in 2013) and 36% triple-play (37%). 32% (33%) of Cogeco’s Canadian customers subscribe to a single-play package. High speed internet customers reached 672,981 at the end of the period, up by 4,724 in a quarter, while telephony users dropped by a net 6,352 in the three-month period to 473,244, and CATV subscriptions also fell, by 11,797 to 815,852. Fiscal 2014 second-quarter Canadian revenue increased by 2.3% year-on-year to CAD313.2 million (USD286.9 million), mainly attributable to rate increases implemented in mid-2013 in Quebec and Ontario. Fiscal 2Q14 adjusted EBITDA amounted to CAD157.8 million, or 4.9% higher than in the same period of the prior year, mainly attributable to revenue growth combined with operating expense reduction, and driving the quarterly operating margin up to 50.4% from 49.1% year-on-year.
Including its US cable operations Cogeco reported that its net profit rose to CAD60.4 million in the three months to the end of February 2014, up from CAD51.0 million a year earlier, on total revenues which rose 13% to CAD486 million.