Corus Entertainment Posts $1.5 Billion In Revenue For Fiscal Year 2021
Corus Entertainment Inc. (TSX: CJR.B) announced today its financial results for the full fiscal year 2021 ending August 31, 2021. The results highlighted $1.54 billion in annual revenue, a marginal increase from 2020’s $1.51 billion.
“The benefits we are seeing from the disciplined execution of our strategic plan, in concert with emerging powerful tailwinds from the economic recovery, have resulted in yet another impressive quarter of top and bottom-line growth,” said Corus Entertainment CEO Doug Murphy.
Around $1.45 billion of the annual revenue was generated from the television division while the radio division contributed $97.20 million to the topline figure.
The firm ended the year with $194.57 million in net income compared to a net loss of $607.71 million recorded last year. The annual net income translates to $0.83 earnings per share.
The company also generated a free cash flow of $251.9 million for the year, a dip from $296.2 million last year. The decrease is being attributed to higher income tax installments.
Further, the media firm ended the year also with a cash and cash equivalents balance of $43.69 million. Current assets came in at $398.98 million while current liabilities ended at $552.35 million.
Corus Entertainment last traded at $5.82 on the TSX.
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