Profits, revenues on the rise at Cogeco

MONTREAL – Profits more than doubled while revenue shot up by more than 12% during the second quarter at Cogeco Inc. The Montreal-based company said Thursday that profits for the quarter ended February 29, 2012 reached $81.5 million, up from $22.4 million in the same period last year, which it attributed to gain on the sale of Portuguese subsidiary Cabovisao, which was partly offset by the increase of depreciation and amortization expense due to the reduction of depreciation period for certain property, plant and equipment. Consolidated revenue increased by 12.4% to $345.6 million primarily due to gains in its cable sector. Cable...