(Montreal) Cogeco Inc. reported a profit attributable to shareholders of $19 million for its third quarter, compared to a loss of $34.5 million the previous year.
The company said its revenue was $777.2 million, up from $767.6 million in the same quarter last year.
President and CEO Frédéric Perron says the growth of Cogeco’s Canadian telecommunications operations has been driven by the continued increase in the number of Internet subscribers.
The company’s cable and Internet subsidiary, Cogeco Communications Inc., reported profit attributable to shareholders of $70.4 million, down from $95.9 million a year earlier.
Cogeco Communications’ revenues amounted to $750.6 million, compared to $741.8 million the previous year.
Mr. Perron says that during the third quarter, Cogeco implemented the first steps of a new operating model designed to ensure future growth.