UPDATE 1-Higher cable, satellite prices boost Shaw's profit

Fri Jun 28, 2013 10:19am EDT
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* Third-quarter EPS C$0.52 vs C$0.53 year earlier

* Revenue rises 4 pct to C$1.33 billion

* Raises 2013 cash-flow forecast to C$590-C$600 mln

* Plans to boost dividend by 5-10 pct in each of next two years

* Shares rise 3 percent

June 28 (Reuters) - Canada's Shaw Communications Inc reported stronger-than-expected quarterly results and raised its cash-flow forecast, sending its shares up 3 percent in early trading.

But the company, the dominant cable TV operator in Western Canada, managed only a marginal rise in third-quarter profit as it lost subscribers to its video cable and satellite TV services.

Shaw said the number of subscribers to its video services fell by 26,578, or 1.3 percent, to 2.07 million in the quarter, while the number of those taking its "direct to home" satellite service slipped by 2,930 or 0.3 percent, to about 904,000.

"Subscriber losses in the core cable TV business were pretty much in line, maybe a little worse than anticipated," said David Heger, an analyst at brokerage Edward Jones.   Continued...