Transcontinental posted net income of $30.3 billion for the third quarter, a 9% increase over $27.8 million in the prior year.
The direct mail services and printing firm reported revenue of $584.9 million for the quarter ended July 31, a 6% increase over , $551.1 million last year.
The Montreal firm attributed these results to acquisitions in 2007 and 2008, combined with the strong performance of newspapers, Publi-Sac (Ad-Bag), flyer and book printing, and Mexican operations, as well as cost controls which more than offset the negative exchange rate impact and the backlash of the U.S. credit crunch on the firm’s direct mail operations.
“We are very pleased with our performance for the third quarter and the first nine months of the year, which shows clear growth compared to 2007,” said François Olivier, CEO, in a statement. “Two areas in particular are very encouraging for the future: we have continued to invest in organic growth, especially in strategic segments such as digital media and newspaper printing and we have continued to attract major customers in Canada in our printing sectors.”
