MONTREAL, QUEBEC — (Marketwired) — 04/13/16 — Today, Cogeco Inc. (TSX: CGO) (“Cogeco” or the “Corporation”) announced its financial results for the second quarter ended February 29, 2016, in accordance with International Financial Reporting Standards (“IFRS”).
For the second quarter of fiscal 2016:
For the six-month period ended February 29, 2016:
“Overall, our results for the second quarter of the 2016 fiscal year have been satisfactory,” declared Louis Audet, President and Chief Executive Officer of Cogeco Inc. “Cogeco Communications– American broadband services subsidiary, Atlantic Broadband, continues to report strong results and solid organic growth following the acquisition of the Connecticut system. Meanwhile, Cogeco Communications– Canadian broadband services subsidiary, which was renamed Cogeco Connexion, continues to report satisfactory results in a highly competitive market. Cogeco Connexion also reviewed its product offering during the quarter and launched a new entry-level package and a number of new packages on March 1 which provide customers with greater flexibility and choice.”
“Cogeco Communications– Business ICT services subsidiary, Cogeco Peer 1, is pursuing its plan to build competitive product portfolios,” added Mr. Audet. “As this exercise progresses, in an increasingly competitive market, we are deploying new sales strategies and streamlining our product-offering, focusing on profitability.”
“Recently renamed, Cogeco Media completed the sale of its out-of-home advertising company, Metromedia,” continued Mr. Audet. “As we focus our efforts on strengthening our position in the radio industry, we are very gratified to have seen an exceptional performance from most of our radio stations over the second quarter, as confirmed by the latest Numeris ratings and our subsidiary–s financial results.”
“We have also seen an overall positive reaction to our renaming and rebranding exercise, which we unveiled during the second quarter. We feel well on our way to building a strong, unified and recognizable brand, to position Cogeco for an inspiring and successful future,” concluded Mr. Audet.
ABOUT COGECO
Cogeco Inc. (corpo.cogeco.com) 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 and communications technology services (colocation, network connectivity, managed hosting, cloud services and managed IT services), through its 17 data centres, an extensive FastFiber NetworkTM 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 news agency. Cogeco–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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