Shaw posts $202m profit amid tough competition

TORONTO —Shaw Communications Inc. on Thursday reported an increase in profit in its first quarter on higher revenues amid a volatile economic and competitive environment. For the period ended Nov. 30, 2011, Shaw posted a profit of $202 million, or 43 cents a share, compared to $17 million, or three cents a share, a year earlier. The change in profit is due in part to a charge of $139 million to the Canadian Radio-television and Telecommunications Commission — related to the acquisition of Canwest Global Communications broadcast assets, and other restructuring expenses worth $58 million.

Revenues are up 19 per cent to $1.28 billion, mainly due to the inclusion of Shaw Media — the Canwest assets that include Global Television and other specialty channels.