Cogeco reins in targets, despite growing profits

MONTREAL – Profits and revenues at Cogeco Inc. continued to rise for the third quarter of fiscal 2012. Profits bounced back to $55.4 million this quarter, compared to a $179.2 million loss in the same period of the previous fiscal year which was mostly attributable to the write-off of its net investment in its Cabovisao Portuguese subsidiary. For the period ended May 31, revenue was $358 million, up 8.4% from $330 million in the same quarter last year, primarily due to its cable sector and recent acquisition of Metromedia. Cable revenue grew 7.2% to $319.8 million from $298.2 million, while revenue...