Cogeco Cable Q4 profit up with new Portugal unit

MONTREAL, Oct 26 (Reuters) - Cogeco Cable Inc (CCA.TO: Quote, Profile, Research, Stock Buzz) reported a higher fourth-quarter profit on Friday, as stronger cable operations in Canada and Portugal helped lift revenues by 40 percent.

The Cogeco Inc (CGO.TO: Quote, Profile, Research, Stock Buzz) subsidiary said it earned C$36.4 million, or 78 Canadian cents a share, in the three months ended Aug. 31. That was up 7 percent from a profit of C$34 million or 85 Canadian cents a share in the year earlier period.

The per-share profit figure fell in the latest fourth quarter because the company issued 8 million subordinate shares earlier in the year.

Revenue rose to C$244 million from C$175 million, mainly because the latest reporting period included a full three months of operations in Portugal, compared with one month a year ago.

Cogeco has digital television and telephony services in Canada and cable operations in Portugal. The company's C$667.5 million acquisition, including debt, of Cabovisao, Portugal's second-largest cable company, closed on Aug. 1, 2006.

($1=$0.96 Canadian)