CanWest profit soars on Australian TV sale

Article Abstract:

CanWest Global Communications Corp., a Winnipeg, Manitoba-based broadcaster, has reported earnings of C$100.5 million, or 67 cents a share, for the third quarter of 1998, up 176% from the C$36.5 million, or 25 cents per share, it earned in 1997 for the same period. The increase in profits that CanWest reported for the quarter, which ended May 31, 1998, was brought largely by a one-time gain from selling 19% of its economic interest in Ten Television Network in Australia. CanWest received C$60.8 million, or 40 cents a share, from the sale of its Australian television holdings. Profits from continuing operations at CanWest amounted to C$39.8 million, or 27 cents a share, up 8% from the amount it reported in 1997 for the same period.

Comment:

Reports earnings of C$100.5 mil for third quarter of 1998, up 176% from C$36.5 mil it earned in 1997 for same period

Radio & TV Broadcasting, Radio and Television Broadcasting, Manitoba, Broadcasting industry, Broadcasting, CanWest Global Communications Corp., Article

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Onex posts record profit

Article Abstract:

Onex Corp achieved record profit of C$74.9 million, or C$1.83 per share, in 1999 1st qtr, up six times from 33 cents from a year-ago period, said company's president, Gerry Schwartz, during its yearly meeting on May 13, 1999. Schwartz was congratulated by the company's investors for his effort of making it achieved substantial profits. Schwartz announced that Onex's Celestica electronics business is anticipated to improve by 2001 to achieve C$10 billion in revenue.

Canada, Electrical & Electronic Equip, Electrical Equipment, Appliance, and Component Manufacturing, Onex Corp.

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