Peer 1 writedown weighs on Q3 profits at Cogeco Inc.

MONTREAL – A $450 million writedown of its Business ICT services segment contributed to third quarter losses at Cogeco Inc., the company announced Thursday.For the period ended May 31, 2016, losses amounted to $381.9 million of which $117.7 millionwas attributable to owners of the corporation, compared to a $66.3 million profit in the same period last year of which $22.6 million was attributable to the owners of the corporation. According to the news release, the decrease is mainly due to the non- cash pre-tax impairment of goodwill and intangible assets of $450.0 million and from $10.5 million related to the...