Home FAQ Search Memberlist User Groups Register Login   

BloggingTories.ca Forum IndexBloggingTories.ca Forum Index
    Index     FAQ     Search     Register     Login         JOIN THE DISCUSSION - CLICK HERE      


Post new topic   Reply to topic Page 1 of 1
View previous topic :: View next topic  
Author Message

Joined: 04 Oct 2006
Posts: 8114
Reputation: 324.8Reputation: 324.8
votes: 21
Location: The World

PostPosted: Wed Mar 06, 2013 1:03 pm    Post subject: Torstar profit plunges Reply with quote

Net income attributable to equity shareholders fell to C$24.1 million, or 30 Canadian cents per share, from C$64.3 million, or 81 Canadian cents per share, a year earlier.

Revenue fell 7 percent to C$395.7 million primarily on lower print advertising.

The declines in print revenue were only partially offset by an increase in digital revenue, the company said.

Excluding restructuring and others charges, Torstar earned 49 Canadian cents per share.

Analysts had expected earnings of 53 Canadian cents per share on revenue of C$413.65 million, according to Thomson Reuters I/B/E/S.

Torstar's shares fell 10 percent to C$7.11 in early trading on the Toronto Stock Exchange. They had fallen some 36 percent in the past six months, prior to Wednesday's drop.

The company's Star Media group owns numerous titles including the online newspaper thestar.com, the weekly city magazine The Grid, and the Canadian Immigrant magazine.

The media business accounted for 73 percent of Torstar's operating revenue of C$395.7 million in the fourth quarter.

The company said it cut 260 jobs in 2012.


Joined: 16 Dec 2009
Posts: 6153
Reputation: 293.9
votes: 8

PostPosted: Fri Mar 22, 2013 4:51 pm    Post subject: Reply with quote

Hopefully, part of a trend.
Post new topic   Reply to topic Page 1 of 1


Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You can attach files in this forum
You can download files in this forum

Torstar profit plunges

phpBBCopyright 2001, 2005 phpBB