Printing Industry News for Canada | RSS | 
13 March 2024
Transcontinental Profits Up , Sales Down
MONTREAL—
Revenue decreased by $26.6 million, from $707.0 million in the first quarter of 2023 to $680.4 million. This decrease is mainly due to lower volume in the Printing Sector and, to a lesser extent, in the Packaging Sector. Operating earnings increased by $6.8 million, or 9.0%, from $75.9 million in the first quarter of 2024. The increases are mainly attributable to cost reduction initiatives, partially offset by lower volume. The Packaging Sector had an excellent start with a 29.6%
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Still the largest printing company in Canada and 4th largest in North America
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raddarᵀᴹ, the reinvented flyer, expands in Québec, Ontario and British Columbia
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growth in adjusted operating earnings before depreciation and amortization for the quarter compared to last year, as the initiatives implemented to reduce our costs and a more favourable product mix more than offset the softer demand across the market. In the Printing Sector, their cost reduction allowed us to mitigate the persistent challenges facing our book printing activities. In the Printing Sector, Transcontinental expect lower volume in their traditional activities. This anticipated volume reduction should result in lower adjusted operating earnings before depreciation and amortization for fiscal 2024 compared to fiscal 2023. They expect this decrease to be mostly offset by cost reduction initiatives and the continued roll-out of raddar™.
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