Transcontinental Posts ‘Best Operating Performance in Its History’

Net income applicable to participating shares rose from $43.1 million in 2009 to $44.5 million in 2010. Adjusted net income applicable to participating shares, which excludes unusual items, was up 20 percent, from $52.4 million to $62.9 million.

For the 12-month period ended Oct. 31, 2010, the corporation reported organic growth in revenues of 1.2 percent. This growth stems from new printing contracts and a recovery in advertising spending in its newspapers and magazines. Consolidated revenues were down 3.6 percent, from $2.2 billion to $2.1 billion, mainly due to divestitures or closures of plants and publications, the impact of the exchange rate and the paper effect.