Cogeco Inc. says a costly battle plan designed to preserve its share of the Portuguese cable market against larger rivals will stunt the growth of the Montreal-based company's cable operations in the coming fiscal year.Coming off several quarters of double-digit earnings growth, Cogeco said it expects operating earnings in fiscal 2010 to be similar to this year at $500-million, as it boosts capital expenditures in Canada and faces higher costs to minimize revenue losses in Europe. Cogeco reported profit of $10.5-million, or 63 cents per share, for the quarter ended May 31, up from year-earlier profits of $9.5 million, or 57 cents. Revenue climbed 11 per cent to $316.3 million. Cogeco Cable Inc.'s profit was $31.8-million, or 65 cents per share, compared with $31.1-million, or 64 cents, a year earlier. Consolidated revenue rose 11.2 per cent to $305.7-million for the quarter. CGO (TSX) fell 27 cents to $22.23. CCA (TSX) fell $1.40 to $27.54.
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