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CanWest Global Communications Corp, Canada's biggest media company, reported a higher fourth-quarter profit as gains on the sale of the company's New Zealand and Canadian radio assets boosted results.
CanWest, which owns Canada's Global television network and a national chain of daily newspapers, said it earned C$197.5 million ($277.62 million), or C$1.11 a share, in the three months ended August 31.
That was up from a profit of C$154.9 million, or C87c a share, in the same period a year earlier.
However, CanWest said losses from continuing operations rose to C30c per share in the quarter from C7c a year earlier.
CanWest booked C$252 million in asset-sale gains in the quarter.
A year earlier, it gained C$164 million after selling TV3 Ireland.
Revenue rose 11 per cent to C$679 million, ahead of analyst expectations of C$648.3 million.
- Reuters
