"Organic and external growth" boost profits at Cogeco

MONTREAL - Surging fourth quarter profits helped drive Cogeco’s “strong” year-end results, the cable and media company said Thursday. For the fiscal year ended August 31, Cogeco Inc. reported a 9.2% increase in consolidated revenue to reach $1.44 billion, while fourth-quarter consolidated revenue grew 12.5% year-over-year to $375.4 million. Quarterly net income was $21.1 million, up almost 72% from $12.3 million in the same period last year, though the company recorded a $9 million net loss for the year due in large part to an $225.9 million impairment loss of recorded on its investment in its Cabovisao subsidiary in Portugal. ...