Revenue grows, but profits slip at Cogeco

MONTREAL – On-going turbulence at its European operations helped to pull down fourth quarter profits at Cogeco Inc. by 16.2%.Net income for the fourth quarter was $12.3 million, down from $14.6 million last year, despite a 5.5% increase in revenue from $316.2 million in 2009 to $333.6 as of August 31, 2010. For fiscal 2010, Cogeco’s revenues increased 5.5% to $1.3 billion, with a net income of $56.3 million, compared to a loss of $79 million a year earlier.“Despite the slow stabilization of the global economic environment in fiscal 2010, Cogeco managed to achieve strong results, surpassing nearly all of...