CANWEST PROFITS SOAR
By Adnews Staff
Winnipeg-based CanWest Global Communications Corp. has reported record breaking profit for the first quarter ending Nov. 30, 1996. The broadcaster's revenue increased 29% to $219 million, and net earnings jumped 66% to $53 million. Operating profit for CanWest increased at all three of the company's operations. Canadian operating profit jumped 11% to $43.5 million, while Australia's increased 33% to $37.2 million and New Zealand's rose 246% to $11.6 million. In addition, CanWest has increased its stake in Australia's Network Ten to 76% from 66%.
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