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17 September 2024
Transcontinental Sales Down But Profits Up 27%
MONTREAL—
Revenues decreased by $6.7 million, or 0.9%, from $706.7 million in the third quarter to $700.0 million in the corresponding period of 2024. This decrease is mainly due to lower volume in the Retail Services and Printing Sector. Operating earnings increased by $26.2 million, or 27.5%, from $95.3 million in the third quarter of 2023 to $121.5 million in the third quarter of 2024.
This increase in mainly attributable to Transcontinental's cost reduction initiatives, the decrease in restructuring and other costs, a more favourable product mix in the Retail Services and Printing Sector, the favourable effect of exchange rate fluctuations and higher volume in the Packaging Sector, partially offset by lower volume in the Retail Services and Printing Sector. Transcontinental Printing has a network of 13 plants in Canada and some 3,500 employees. The sector offers a wide range of innovative printing solutions for flyers, in-store marketing products, newspapers, magazines and colour books. They are listed as Canada's largest printer by Graphic Monthly.
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