TORONTO – A 10% jump in television revenue in the second quarter helped to drive up profits at Corus Entertainment by 16%.
Consolidated revenues for the three months ended February 29, 2012 were $205.7 million, up 8% from $191.1 million last year. Consolidated segment profit grew 4% to $62.2 million over $60.0 million last year, while net income attributable to shareholders was $31.6 million compared to $27.3 million in 2011.
Corus said Thursday that television segment profit grew 1% to $60.4 million, though specialty advertising revenues were up 4%, and subscriber revenues “were consistent” with the same period last year. Merchandise, distribution and other revenue jumped 46%, and Movie Central finished the quarter with 988,000 paid subscribers.
The company’s radio division saw its segment profit grow by 2% for the quarter to $9.8 million after revenues dipped by 1%.
“We are delighted with our second quarter results as we continued to grow our revenue and net income, despite a challenging ad sales environment,” said president and CEO John Cassaday, in a statement. “Our portfolio of Women’s brands delivered double digit ad growth, and our Kids business continued to grow on the strength of our Beyblade sales. Our Radio business also experienced a return to growth in the quarter.”
