Cogeco's profits flat despite "solid" second quarter

MONTREAL – Despite gains at its main Cogeco Cable unit, second quarter profits at Cogeco Inc. were modest, the company announced Friday.Cogeco Inc. recorded a net profit of $10.6 million for the quarter ended February 28, 2011, almost identical to a year ago when it posted profits of $10.5 million. Revenue rose 6.6% to $350.6 million, led by its cable sector and the purchase of Corus’ 11 radio stations in Quebec, which closed in February.Cogeco Cable posted a net income of $31.2 million, up 4.6% from $29.8 million in the same period last year, while revenue grew 5% to $336.6...