January 9, 2008 / 11:39 PM / 10 years ago

Cogeco reports 1st-qtr loss despite revenue rise

TORONTO (Reuters) - Cogeco Inc (CGO.TO) reported a first-quarter loss on Wednesday, despite a rise in revenue the radio, TV and communications company said.

Cogeco lost C$9.98 million ($9.88 million), or 60 Canadian a share, in the three months ended November 30. That’s down from a profit of C$6.75 million , or 41 Canadian cents a share, in the same period a year earlier.

    Revenue was up 11 percent at C$292.8 million, the company said.

    Cogeco also announced it would increase its quarterly dividend to 7 Canadian cents a share from 6.25 Canadian cents.

    ($1=$1.01 Canadian)

    Reporting by Rob Wilson; editing by Allan Dowd

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