Canada's Quebecor posts 7 pct rise in adjusted operating income

Thu Mar 13, 2014 10:29am EDT
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March 13 (Reuters) - Canadian media and telecommunications conglomerate Quebecor Inc reported a 7 percent rise in quarterly adjusted operating income, helped by a 3.7 percent increase in revenue from its telecoms business, the company's biggest.

The adjusted operating income rose to C$391.3 million ($351.5 million) in the fourth quarter, from C366.1 million a year earlier.

Net income attributable to shareholders rose to C$43.4 million, or 29 Canadian cents per share, from C$7.1 million, or 5 Canadian cents per share.

The company said it benefited from a C$66.5 million favorable change in losses and gains on the valuation of financial instruments, among some other gains.

Revenue was nearly flat at C$1.12 billion.