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Company News

Shaw Communications profit rises on asset sale gain

Oct 26 (Reuters) - Canadian telecoms company Shaw Communications Inc’s fourth-quarter profit more than tripled, helped by a C$330 million gain on the sale of its subsidiary ViaWest Inc.

The Calgary-based company reported net income from continuing operations of C$481 million, or 96 Canadian cents per share, for the fourth quarter ended Aug. 31.

In the year-earlier quarter, the company’s profit was C$154 million, or 31 Canadian cents per share.

Quarterly revenue rose to C$1.24 billion from C$1.21 billion. (Reporting by Akshara P)

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