17 March 2015
Transcontinental sees revenue increase in first quarter
MONTREAL—Transcontinental’s revenue increased by 1.1% in its first quarter to $504.6 million from $499.3 million.  The increase is attributed to the acquisition of Capri Packaging and the Quebec newspapers from Sun Media Corporation. Transcontinental also signed a new printing and distribution agreement in 2014 that contributed to the revenues increase.

This growth in revenues was mitigated by disposals and closures, specifically the sale of Rastar's assets, a reduction in marketing products printing activities, a transitional slowdown in flyer printing activities in the United States and, to a lesser extent, in Canada, and challenging market conditions for advertising spending.
 
"With the results for the first quarter of Fiscal 2015, namely the 1.1% growth in consolidated revenues and the 36.7% increase in our profitability, the year is off to a good start," François Olivier, president and chief executive officer of TC Transcontinental said.

"Our strategy aimed at consolidating the weekly newspaper market in Quebec and diversifying into flexible packaging has been fruitful. The integration of Transcontinental Capri was successfully completed, and this asset is performing as expected. Despite lower advertising revenues, our various initiatives allowed us to be profitable and to keep generating significant cash flows. We maintain an excellent financial position, which permits us, once again this year, to increase the dividend per participating share."

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