Shaw profits fall on wireless decision

Shaw Communications Inc. announced Thursday that overall profit fell by 32 per cent in the fourth quarter and said it expects revenue to grow but cash flow to decline somewhat in its 2012 fiscal year.

CALGARY — Shaw Communications Inc. announced Thursday that overall profit fell by 32 per cent in the fourth quarter and said it expects revenue to grow but cash flow to decline somewhat in its 2012 fiscal year.

The cable, Internet and satellite TV provider reported $82.5 million in net income in the quarter, or 18 cents per share, down from $121.6 million or 28 cents per share last year. The decline for the three months ended Aug. 31 was due to an $83.7-million loss at Shaw’s discontinued operations, which include its now-abandoned wireless plans.