News 23 September 2014
Third quarter brings greater profitability for Transcontinental
Transcontinental is posting higher profitability in the third quarter. As revenues increased by 1.9% in the third quarter to $500.0 million from $490.7 million at the same time last year, its net earnings rose to $44.2 million from $30.1 million.
The improvements are mostly due to the company’s recent acquisitions: Capri Packaging and Sun Media Corporations’ weekly newspapers in Quebec, as well as new agreements in two operating sectors. However, the company quoted a softer advertising market, which affected revenue growth.
Adjusted earnings rose 11% to $58.3 million from $52.5 million due to the contribution from acquisitions, new printing and distribution agreements, and company-wide optimization of its cost structure and its printing platform.
The improvements are mostly due to the company’s recent acquisitions: Capri Packaging and Sun Media Corporations’ weekly newspapers in Quebec, as well as new agreements in two operating sectors. However, the company quoted a softer advertising market, which affected revenue growth.
Adjusted earnings rose 11% to $58.3 million from $52.5 million due to the contribution from acquisitions, new printing and distribution agreements, and company-wide optimization of its cost structure and its printing platform.
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