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Cogeco Cable profit falls on impairment charges

10
Jul
2014

(Reuters) – Canadian telecommunications company Cogeco Cable Inc reported a lower third-quarter profit and cut its full-year profit outlook by 10.6 percent hurt by impairment charges at its Cogeco Cable Canada unit. The company expects revenue for the next financial year to be $2.03 billion, up 3.8 percent from the projected revenue for the current year ending August. The company, which provides cable TV, Internet and phone services, said net profit fell to C$35.5 million ($33.3 million) or C$0.72 per share, for the quarter ended May 31, from C$48.1 million, or C$0.98 per share, a year …

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