Profits rise, revenue falls at Corus

TORONTO – A drop in television ad revenues pulled down third quarter revenues at Corus Entertainment, despite an increase in profits. Consolidated revenues for the three months ended May 31 were $204.1 million, down 4% from $211.8 million last year. Consolidated segment profit fell 4% to $75.7 million from $78.8 million last year, while net income attributable to shareholders for the quarter was $43.2 million up 7% compared to $40.4 million last year. Corus said Thursday that its television segment profit fell 5% to $66.7 million due in part to an 11% drop in specialty advertising revenues which were impacted...