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Financial Post Staff, Published Jan 12, 2023
Postmedia Network Canada Corp.’s year-over-year revenue increased by 5.2 per cent to $124.2 million in its fiscal first quarter thanks to the impact of a key acquisition, but it wasn’t enough to avoid a deeper quarterly net loss.
The media chain, which owns the National Post, the Financial Post and more than 120 media properties across Canada, said the overall revenue increase was driven by an $8.6-million boost in its parcel delivery business. It came even though revenue from advertising and circulation decreased by 5.9 per cent to $65.3 million and 5.4 per cent to $39.7 million, respectively, in the three-month period that ended on Nov. 30, 2022.