Business
Growth, acquisition and positive results for Cogeco Cable in 2006
Growth, acquisition and positive results for Cogeco Cable in 2006.
About this update from Cogeco Communications Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Dec. 5 /CNW Telbec/ - For fiscal 2006, Cogeco Cable Inc. (TSX:\nCCA) reported important customer growth thanks to a sustained addition of\ncustomers in its Canadian territories and to the addition of customers from\nits newly acquired Portuguese affiliate, Cabovisao - Televisao por Cabo, S.A.,\n(Cabovisao). Thus, most performance indicators showed increases. For fiscal\nyear 2006, consolidated revenue increased by $65.6 million, consolidated\noperating income before amortization rose by $25.5 million, net income\namounted to $65.6 million, or $1.64 per share, and to $45.6 million, or\n$1.14 per share, excluding the impact of the income tax recovery.\n\n\nGrowth by business acquisition\n\n\n------------------------------\n\n\nWith the acquisition of Cabovisao as a contributing factor, the number of\nrevenue-generating units(1) (RGUs) jumped from about 1,348,000 at the\nbeginning of the fiscal year to approximately 2,185,000 at the end of August\n2006. \"The arrival of Cabovisao in our Corporation, with about 629,000 RGUs,\nis very promising. With the well-trained and enthusiastic people in Portugal,\nwe are working to improve our position in that market\", said Mr. Louis Audet,\nPresident and CEO of Cogeco Cable.\n\n\nCustomer growth in Canada\n\n\n-------------------------\n\n\nIn fiscal 2006, the Canadian operations reported continuous growth in all\nservices. \"We are in a very good position to sustain growth in Canada with\nmore than 208,000 RGUs added to our base in 2006 as a result of the positive\nimpact of our Digital Telephony service,\" added Mr. Audet. For fiscal 2007,\nCogeco Cable is aiming to continuous improvement in attracting new customers.\n\n\n2007 Customer growth in Portugal\n\n\n--------------------------------\n\n\nIn Portugal, we expect to add more than 75,000 RGUs, essentially equally\ndivided between basic cable, High Speed Internet (HSI), and Telephony. Revenue\ngenerated from the Portuguese operations should exceed $215 million and\noperating income before amortization should reach approximately $70 million.\n\n\n\"For fiscal 2007, all Cogeco Cable employees here and abroad will aim to\nincrease customer satisfaction through improved customer service and enhanced\nproduct and service offerings. We will maintain tight controls over the\nCorporation's costs and we will work to continue to...