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.
The company announced dividend increases by eight per cent for shareholders of both the parent company and subsidiary.
This report by The Canadian Press was first published Jan. 13, 2025.
Companies in this story: (TSX:CGO, TSX:CCA)
