MONTREAL — Cogeco Inc. reported a profit attributable to shareholders of $29.8 million, down 13.7 per cent from $34.5 million a year earlier, as it begins a three-year transformation program in its 2025 fiscal year.
Revenues were $765 million, down from $776.2 million during the same quarter last year.
Cogeco's cable and internet subsidiary, Cogeco Communications Inc., says profit attributable to shareholders was $100.6 million, up 12.4 per cent from $89.5 million during the same quarter last year.
Revenues for Cogeco Communications were $738.7 million, down from $747.7 million a year earlier.
President and CEO Frederic Perron says high-speed Internet subscriber growth remained strong in the first quarter, while U.S. subscriber metrics are improving and the company prepares for an upcoming Canadian wireless launch.
Cogeco declared a dividend of $0.922 per share for shareholders of both the parent company and subsidiary, unchanged from its previous quarter but up eight per cent compared with a year ago.
This report by The Canadian Press was first published Jan. 13, 2025.
Companies in this story: (TSX:CGO, TSX:CCA)
The Canadian Press
