Rogers Communications has reported a whopping 4th quarter increase of 44% from last year to soar to a profit of $254 million! Now deamed as Canada’s largest operator of wireless and cable TV, the strong surge is mainly due to the wireless division. Overall company revenue was $2.69 billion in the quarter, up 13% from $2.37 billion a year earlier
CEO Ted Rogers said that Rogers had “a year of continued solid growth in customers, revenues and cash flow while at the same time we further deleveraged our balance sheet, simplified our corporate structure and laid the groundwork for returning increasing amounts of cash to our shareholders, which on Jan. 7 doubled its quarterly dividend to 25 cents per share and announced a buyback of non-voting stock. While we have much to do in continuing to reinforce our services and systems, I am confident that we are exceptionally well positioned to carry on our growth and success in 2008 and beyond.”
Rogers Wireless added 158,000 subscribers with an average revenue per user increased 6% to $73.33, driven by 48% growth in data services. Cable added 65,000 voice-over-cable telephone subscribers to end the quarter with 656,000. Internet subscriber base also increased by 46,000 to 1.47 million. In addition, the basic cable subscriber rose by 20,000 to just shy of the 3 million mark. Finally, digital cable households increased by 61,000 to 1.35 million.
Another highlight of the year was the Rogers Media acquisition of five Citytv television stations. Rogers is positioned nicely for 2008 to increase every area of their business.