April 12, 2012 / 12:27 PM / 6 years ago

UPDATE 1-Cogeco Cable profit falls 25 pct on higher costs

* Cogeco Cable Q2 rev up 8 pct at C$317.7 mln

* Cogeco Cable Q2 EPS from cont ops C$0.63

* Cogeco Inc Q2 EPS from cont ops C$0.50

April 12 (Reuters) - Cogeco Cable Inc, the main unit of media and telecom company Cogeco Inc, posted a lower second-quarter profit, hurt in part by an increase in depreciation and amortization costs.

Cogeco Cable earned C$31.1 million ($31 million), or 63 Canadian cents per share, from continuing operations, down from C$41.3 million, or 85 Canadian cents per share, in the year-ago period.

The company mainly provides cable-TV, high-speed Internet and telephone services to mostly rural areas of Ontario and Quebec.

Revenue for the Montreal-based company, which recently sold its struggling Portuguese unit, rose 8 percent to C$317.7 million.

The Cabovisao unit in Portugal contributed about 13 percent of its total revenue last fiscal year, but was buffeted by the tough economic conditions there and a price war.

Parent company Cogeco Inc said its profit from continuing operations fell 7 percent to C$29.4 million.

Shares of Cogeco closed at C$53, while those of Cogeco Cable closed at C$51.74 on Wednesday on the Toronto Stock Exchange.

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