Portugal’s parlous economic state continues to be a worry for cableco Cabovisão and its Canadian parent Cogeco.
In the six months to February 2011, the company lost subscribers, though managed to increase the number of services taken by the installed base. “Economic conditions in Portugal continued to be difficult, and Management has not yet detected clear signs of a sustained economic recovery. Consequently, Cogeco Cable continues to closely control costs and is focusing on generating RGU growth in the near term,” the company said in a statement.
Homes connected slipped to 268,721 from 269,194, which RGUs rose to 853,090 from 828,772 in August 2010. Digital TV saw the most growth, ending the six-monthly period at 175,803.
