Cogeco forecasts 36% higher income in 2006

TORONTO – Growth in cable, Internet, and telephony subscribers has led Cogeco Cable to predict a 36% increase in net income in 2006, the company announced at its annual shareholders’ meeting. And the company is exploring adding wireless, like competitor Vidéotron will do in Quebec when it launches mobile phone services through Rogers, CEO Louis Audet told reporters. Net income in 2005 nearly tripled, to $28.7 million, compared with a net loss of $32 million in 2004. Cogeco predicts net income will rise to $39 million in fiscal 2006. In 2005, the company lost 2,400 basic cable subscribers, but boosted...