CANWEST SEE BIG JUMP IN PROFIT
By Adnews Staff
Winnipeg-based CanWest Global Communications saw its profit jump 92% in the third quarter ending May 31, mainly because of strong revenue gains in Canada Australia and New Zealand. Net income for the quarter was $25.5 million, up from $13.3 million a year earlier. Revenues rose to $169.2 million from $146.5 million. Over the first nine months of the fiscal year, net income increased from $57.6 million to $83.4 million. Revenues jumped $487.3 million, up from $426.2 million. CanWest is waiting for Canadian regulatory approval to add several TV stations to its network. It also has interests in television networks in Australia and New Zealand.
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