Astral Media Inc. says its profits strengthened in the first quarter on the back of strong revenues in its television and outdoor advertising divisions.
The company posted profits of $55.8 million, or $1 per share, an increase from $53.1 million, or 92 cents per share, a year earlier.
Revenue increased to $271.1 million to $267.1 million.
Astral’s television operations experienced revenue growth of 3% partly from high fees charged for its cable channels.
Radio operations saw revenue fall 4%.
Astral is Canada’s largest pay and specialty TV broadcaster as well as the largest radio company with 83 radio stations in 50 Canadian markets, and the third-largest outdoor advertising company.
