Cogeco Communications (CCA) reported that its net profit grew 9.1% to $104.9 million during its
fiscal fourth quarter.
The Montreal-based telecommunications company said that its profit amounted to $2.28 per
share, up from $2.03 a share a year earlier. Revenue for the three months ended August 31
rose 14.7% to $725.4 million compared to $632.6 million in the same period of 2021.
Cogeco added that its capital expenditures totaled $223.5 million, compared to $175.2 million in
fiscal Q4 2021 as it expands its network in both Canada and the U.S.
Looking ahead, the company said inflation and rising interest rates are likely to pressure its
revenues in the coming months.
Cogeco’s stock is down 29% this year and trading at $70.80 per share.
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