August 11, 2010 / 11:21 AM / in 8 years

UPDATE 1-Quebecor Q2 adjusted profit up on telecom strength

* Adj cont ops profit C$1.06/basic shr vs C$0.88 yr ago

* Revenue up 5 pct

* Telecommunications rev rises 11 pct

Aug 11 (Reuters) - Media and communications group Quebecor Inc (QBRa.TO) (QBRb.TO) reported a 22 percent rise in quarterly adjusted profit, helped mainly by strength at its telecommunications segment.

For the second quarter, net income fell to C$65.5 million ($63.59 million), or C$1.02 per basic share, compared with C$76.8, or C$1.19 per basic share, a year ago. However, on an adjusted basis, the company earned C$68.5 million, or C$1.06 per basic share from continuing operations, compared with C$56.3 million, or 88 Canadian cents per basic share from continuing operations, a year ago.

Quebecor, which controls the Videotron cable company and the Sun Media chain of newspapers, reported a 5 percent rise in revenue to C$994.0 million.

Telecommunications revenue was up 11 percent to C$543.1 million, mainly due to customer growth for all its services.

The class A shares of the Montreal-based company closed at C$34.50 Tuesday on the Toronto Stock Exchange. ($1=1.030 Canadian Dollar) (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Aradhana Aravindan)

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