MONTREAL, QUEBEC — (Marketwired) — 04/06/17 — Today, Cogeco Inc. (TSX: CGO) (“Cogeco” or the “Corporation”) announced its financial results for the second quarter ended February 28, 2017, in accordance with International Financial Reporting Standards (“IFRS”).
For the second quarter of fiscal 2017:
For the six-month period ended February 28, 2017:
“Overall, results for Cogeco Inc.–s second quarter of our fiscal year 2017 are satisfying,” declared Louis Audet, President and Chief Executive Officer of Cogeco Inc. “In our communications subsidiary, Cogeco Communications Inc., we remain pleased with the results in our Canadian broadband services sector, especially given the competitive conditions in the Canadian broadband market and the maturity of this industry.”
“In the American broadband services sector, Atlantic Broadband remains a solid performer,” added M. Audet. “We are satisfied with results in fiscal 2017 so far, which are in line with our expectations.”
“With our Business ICT services business, Cogeco Peer 1, we continue to focus on improvements and generating positive results,” stated Mr. Audet. “We are implementing thorough action plans for each of our geographic regions and our continued focus on controlling our costs and capital expenditures has resulted in meaningful free cash flow.”
“At Cogeco Media, results remain strong. Our radio subsidiary once again performed very well while maintaining its leadership position in the Quebec radio market, based on the latest Numeris rankings,” concluded Louis Audet.
ABOUT COGECO
Cogeco Inc. is a diversified holding corporation which operates in the communications and media sectors. Through its Cogeco Communications Inc. subsidiary, Cogeco provides its residential and business customers with video, Internet and telephony services through its two-way broadband fibre networks. Cogeco Communications Inc. operates in Canada under the Cogeco Connexion name in Quebec and Ontario, and in the United States under the Atlantic Broadband name in western Pennsylvania, south Florida, Maryland/Delaware, South Carolina and eastern Connecticut. Through Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, hosting, cloud and managed services), through its 16 data centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Through its subsidiary Cogeco Media, Cogeco owns and operates 13 radio stations across most of Quebec with complementary radio formats serving a wide range of audiences as well as Cogeco News, its radio news agency. Cogeco Inc.–s subordinate voting shares are listed on the Toronto Stock Exchange (TSX: CGO). The subordinate voting shares of Cogeco Communications Inc. are also listed on the Toronto Stock Exchange (TSX: CCA).
Contacts:
Source:
Cogeco Inc.
Patrice Ouimet
Senior Vice President and Chief Financial Officer
514-764-4700
Information:
Media
Rene Guimond
Senior Vice-President, Public Affairs and Communications
514-764-4700
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