Transcontinental Inc. reversed a large loss last year to earn $27.5 million in the second quarter on stable revenues.
The company said the acquisition of Quad/Graphics Canada and Redux Media helped offset the loss of Zellers flyer printing and a more difficult advertising environment.
CEO Francois Olivier said the benefits from integrating the Quad/Graphics printing assets have come more quickly than anticipated.
Transcontinental Inc. reported a 5 percent rise in first-quarter adjusted profit as the acquisition of Quad/Graphics Canada helped reduce the impact of the loss of a contract with retailer Zellers.
Transcontinental, which has a contract to print the Globe and Mail newspaper in most of its major markets in Canada until 2028, said benefits from the Quad/Graphics acquisition would continue in the current and the next quarter.
The company also has contracts to print magazines and marketing products for Rogers Communications, Canada's largest wireless company.
TC Transcontinental has widended the internal and external scope of its Paper Purchasing Policy by stipulating that recycled or certified papers be used for its printing and own publishing activities. The new policy will enable TC Transcontinental to more accurately measure the results of its ongoing efforts and to share them with customers and investors, stakeholders and organizations interested in its sustainability efforts.
Transcontinental ended fiscal 2012 with revenues up 12.2 percent (to $585.1 million ) in the fourth quarter. Additionally, under a new agreement with Hearst, TC Transcontinental will receive a payment of US$200 million to compensate for The San Francisco Chronicle only requiring the use of up to two-thirds of the printing equipment specified under the original contract,
MONTREAL—Transcontinental Inc. will close its LaSalle, Quebec, printing facility no later than Dec. 20, which will result in the loss of roughly 150 jobs. All employees affected by the termination of printing operations at this plant have been informed of the decision and will receive severance pay as well as out-placement services to help them find new jobs.
Transcontinental Inc. is closing, on or about Dec. 20, 2012, its printing plant in LaSalle, Quebec, leading to the loss of some 150 jobs. “Given the capacity and potential of our network, we have concluded that we have excess production capacity in relation to market demand,” said Marian Kerr, senior vice president, Retail and Newspapers - Eastern.
TC Transcontinental proudly introduced a panoramic insert, called Panoramax. The format is 63.5x2", which is then folded into four panels for final dimensions of 16x10.5"; it can be printed front and back in full color; plus, it fits into many types of advertising vehicles, such as Publisac and newspapers.
MONTREAL—TC Transcontinental Printing has hammered out a C$250 million contract with Rogers to print its marketing products and magazines. The contract extension applies to two pacts and runs through 2019.
Transcontinental Inc.’s revenues grew 8 percent in the third quarter, from $479.4 million to $517.0 million. Adjusted operating income was down 13 percent during the same period, from $57.1 million to $49.9 million. “The third quarter results demonstrate the resilience of our printing operations and the adverse impact of difficult market conditions on some niches in the Media Sector,” said François Olivier, president and CEO.
Transcontinental Inc. announced that it is selling its Canadian book printing assets—namely its Transcontinental Gagné printing plant in Louiseville and Transcontinental Métrolitho printing plant in Sherbrooke—to Marquis Book Printing, of Cap-Saint-Ignace, which specializes in book printing.
