Cogeco Expects to Generate Revenue of $1 Billion in Coming Year

9:00 am on December 15, 2006 | Category: Business, Corporate, Internet, Television

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Canadian cable and media conglomerate, Cogeco Inc., is aiming to generate revenues of $1 billion in its 2007 fiscal year, a 34% increase from $746.9 million in the year ending on August 31.

The bulk of this growth is expected to come from the Montreal-based company’s cable division, which released some very encouraging financial figures last week.

Cogeco Cable earned a total profit of $65.6 million in fiscal 2006, compared to $45.6 million in the previous year, helping to offset losses incurred by the company’s media holdings.

Cogeco’s president and CEO, Louis Audet, commented that the cable division’s success was “a result of the positive impact of the deployment of our (digital phone) service that encouraged our customers to subscribe to more than one service.” The new VoIP offering has managed to pull in a total of 52,000 customers in its first year of operation.

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    Edited by Jeremy Maddock