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Transcontinental Inc. reports it had $36.8-million of adjusted earnings in its fiscal second quarter, an increase of 12.9 per cent from a year earlier and ahead of analyst estimates.
The country’s largest commercial printer had 47 cents per share of adjusted profit, up from 42 cents a year ago, and 4 cents per share above estimates compiled by Thomson Reuters.
The Montreal-based company – which produces newspapers, magazines and books in addition to its main business of printing and distribution – saw revenue hit by soft advertising sales. Revenue dropped 3.8 per cent from a year earlier to $498.2-million from $517.8-million.
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