Canada's Quebecor's adjusted income rises 3.5 percent

Wed Mar 11, 2015 7:48am EDT
 
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(Reuters) - Canadian telecom and media conglomerate Quebecor Inc (QBRb.TO: Quote) reported a 3.5 percent rise in quarterly adjusted income, helped by strong demand in its telecommunications and media businesses.

Adjusted income from continuing operations rose to C$50.3 million ($39.6 million), or 41 Canadian cents per share, in the fourth quarter ended Dec. 31, from C$48.6 million, or 39 Canadian cents per share, a year earlier.

Revenue rose nearly 3 percent to C$989.4 million.

On a net basis, the company reported a quarterly loss attributable to shareholders of C$59.5 million, compared with a year-ago profit attributable to shareholders of C$300,000, largely due to a C$34.5 million non-cash impact related to goodwill and intangible assets.

($1 = C$1.27)

(Reporting by Sneha Banerjee in Bengaluru; Editing by Sriraj Kalluvila)

 
Pierre Dion, president and chief executive officer of Quebecor and Quebecor Media arrives for their annual meeting in Montreal, June 19, 2014.  REUTERS/Christinne Muschi