BUSINESS

Cogeco reports 'solid' 2014 financial results

11/01/2014 05:22 EDT | Updated 01/01/2015 05:59 EST
MONTREAL - Cogeco Cable Inc (TSX:CCA) is reporting an increase in profits for its 2014 fiscal year.

The Montreal based company says it turned in earnings of $209.4 million for the fiscal year ended Aug. 31 compared to $184.9 million for fiscal 2013.

The profit figures are after interest, taxes depreciation and amortization were factored in.

Cogeco says its revenue for its fourth quarter was up by 4.2 per cent or $19.8 million and 15.1 per cent or $255.1 million for the overall fiscal year.

Cogeco President and CEO Louis Audit says describes the financial performance as solid and attributes it to effective cost control and organic growth in its Canadian and American cable businesses and its data services.

Cogeco Cable is the 11th largest cable operator in North America offering services in Quebec and Ontario as well as Western Pennsylvania, South Florida, Maryland/Delaware and South Carolina.