TORONTO – Corus Entertainment is predicting that 2011 will be a year of growth.
Speaking to investors at its annual meeting late last week, Corus president and CEO John Cassaday said that the company’s investment in new technology and infrastructure, (click here for more on its new Toronto facility), will provide "a robust platform for future growth and margin expansion across our business”.
“For fiscal year 2011, we are targeting consolidated segment profit of $285 to $295 million and free cash flow in excess of $100 million as we execute on the exciting plans we have in place to grow Corus”, Cassaday continued.
After announcing plans to launch OWN: The Oprah Winfrey Network early next year, Cassaday also hinted that the company would offer more HD signals and "non-linear assets", citing custom smart phone and tablet applications as examples.
Scotia Capital analyst Paul Steep said in a research note that the company’s F2011 guidance “reflects the improving advertising revenues in various TV and radio markets across Canada and the early stages of a cyclical recovery that is taking hold”.
