Canada's Corus Ent. Inc., parent company of Nelvana and its YTV and Treehouse channels, has announced its fourth-quarter and year-end financial results, led by continued revenue growth from its broadcasting businesses.
Company share prices increased by 26% and consolidated revenues for the year ending August 31 were $768.7 million, up 6% from last year. Net income for the year was $107 million, compared to $35.5 million last year. Corus Television, led by specialty advertising growth of 12% and subscriber growth of 8%, contributed full-year revenues of $436.3 million, up 9% from $401.9 million last year.
"Corus had another excellent year" said Heather Shaw, Exec. Chair, Corus Ent. Inc. "We accomplished several important initiatives that position us well for the future, such as securing the Cosmopolitan Television license...We are also excited by our new international ventures with Kidsco and qubo."
Corus Entertainment Inc. reports in Canadian dollars.