9 June 2021
Transcontinental Profits Jump By 39%
Canada's largest printing  and packaging company
Canada's largest printing and packaging  company
Transcontenental has  earned $35.6 million in the second quarter, up nearly 39 per cent from $25.7 million a year earlier. It included $7.5 million from the Canada Emergency Wage Subsidy. This marked the first organic growth since the beginning of the pandemic. Highlights include return to growth and significant increase in profitability in the Printing Sector,
Owen Sound printing plant. Transcontinental's printing division profitability has improved
Owen Sound printing plant. Transcontinental's printing division profitability has improved
as well as solid performance in the Packaging and Media Sectors. Revenues of $623.3 million for the quarter ended April 25, 2021; operating earnings of $55.9 million; and net earnings attributable to shareholders of the Corporation of $35.6 million . "We continued to generate very good results, with solid performance in our three sectors and a return to growth in our Printing Sector, said François Olivier, President and Chief Executive Officer of TC Transcontinental. To conclude, our performance and our solid financial position give us the momentum and the capacity to confidently pursue our growth objectives."
1. Printer says:
14 June 2021 at 11:13 PM
So the wage subsidy will end up being a bonus for the CEO. Would be interesting to know how many people got laid off during this time. Just like the US companies take the handouts even though they don't really need them. We pay for it.
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