Shaw revenue rises but profit slips

Shaw Communications Inc. revenues grew by 11 per cent in the first quarter through sales of its bundled services, but profits were affected by higher non-operating items such as debt retirement. The cable television, Internet and phone company said net income slipped to $114.2-million, or 26 cents per share, for the quarter. That's down from $123.5-million or 29 cents per share during the comparable quarter a year earlier.
Shaw's profits in the quarter ended last Nov. 30 were affected by $82-million in costs related to debt retirement, nearly double the amount logged a year earlier. Total revenue from all services rose nearly 11 per cent to $905.9-million from $817.5-million as it grew its customer base and increased service rates.