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Cogeco Q4 profit up 71%

Tags: Cogeco

Media and telecom company Cogeco Inc. (CGO-T) and its main unit Cogeco Cable (CCA-T) posted higher quarterly profits and forecast strong revenues for 2012.

Cogeco Inc. forecast revenue of about $1.57 billion for 2012, while Cogeco Cable -- which provides cable television, high-speed Internet and telephone services in Canada and Portugal -- sees full-year revenue of $1.45 billion.

Montreal-based Cogeco Inc. posted a net profit of $21.1 million, or $1.26 a share, in the quarter, compared with $12.3 million, or 73 cents, a year ago.

Revenue rose 13 percent to $375.4 million.

The more closely watched Cogeco Cable, in which Cogeco Inc. holds voting control via a 32 percent equity stake, posted a net profit of $69.6 million, or $1.42 per share, compared with a profit of $39.7 million, or 81 cents a share, a year ago. Revenue rose 8 percent to $350.2 million. CTV Two CTV News CTV News Channel BNN - Business News Network CP24