Transcontinental Inc. Ends Fiscal 2013 with a Steady Performance
Transcontinental is reporting overall revenues of 2.1 billion dollars for 2013, virtually unchanged year over year. Net income was up 5.2% to 157 million dollars. The company credits the results to strong performance by the printing division, despite losing the printing and distribution contract for Zellers.
The Quebec based company publishes flyers, magazines and newspapers, including The Prince Albert Daily Herald.
Transcontinental earns most of its revenue through its printing business, but it also has a sizeable media division, which operates its weekly community and daily newspapers as well as more than 30 English and French magazines.
Transcontinental’s revenues for the fourth quarter declined from $585.1 million in 2012 to $566.3 million in 2013, mainly as a result of the difficult market conditions that affected the magazine and book printing operations. This decrease is also attributable to the soft advertising market that continued to impact the newspaper/media sector, mostly in local markets, and to the end of the contract to print and distribute Zellers flyers after its store closures.