The results of Transcontinental surpass expectations

Les résultats de Transcontinental surpassent les attentes

MONTREAL – TC Transcontinental has exceeded the expectations of analysts in the fourth quarter, turning at the same time the page on a year in which the part of his activities as a commercial printer – its cornerstone since its creation, there is 42 years of age, has decreased.

This quarterly performance brought the action of the printer and publisher of quebec to the Toronto stock Exchange on Thursday, where it closed up c $ 1.23, or a 6.35 percent, at 20,60 $, after reaching 22,42 $.

In addition to making three acquisitions for approximately $ 1.8 billion, of which 1.32 billion US $ for Coveris America, in the sector of flexible packaging, the company has virtually left the sector of the weekly press.

Well as printing activities continue to draw their pin of the game despite a decline in the advertising business, the company generates a much higher proportion in the packaging industry.

“This has been a pivotal year in the history of our company, has stressed the president and chief executive officer of the company, François Olivier, Thursday, during a conference call with analysts. Thanks to Coveris, we are in the top-10 (the main players) in North America.”

According to Mr. Olivier, this division now has 28 factories and 4000 employees.

By 2018, the revenues of the packaging sector have more than tripled to reach 976 million $, while the annual turnover of the company was $ 2.6 billion. This division takes a broad approach: dairy products, food for animals, as well as other consumer products.

The division of printing, meanwhile, has seen his income to be $ 1.55 billion $, showing a slight increase compared to last year.

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The company has also completed the process of divesting substantially all of its 93 publications québec and ontario, as well as on their website, mostly to local owners.

“I am satisfied with the process and pleased to see that these new owners will potentially have access to assistance measures federal”, said Mr. Olivier, which refers to the envelope of $ 595 million $ over five years announced last month by Ottawa.

In the media sector, the company has kept its specialized publications in the areas of finance – such as the newspaper Business – and construction, as well as the edition of books of teaching and learning.

Regarding its performance in the fourth quarter ended October 8, the company has posted a profit of $ 67 million, or 76 cents per share. It is a step backwards compared to its profit of $ 73.4 million, or 95 cents per share, for the same period last year.

On an adjusted basis, the profit of the company in montreal has reached 99 cents per share, an increase compared to 91 cents per share in the previous year.

For their part, revenues totaled $ 829,2 million $, compared to 527,2 million during the fourth quarter of last year, stimulated in particular by the acquisition of Coveris Americas, earlier this year.

Analysts were counting on average on an adjusted earnings of 76 cents per share and revenue of 777,2 million $, according to forecasts gathered by Thomson Reuters Eikon.

For the year, the company has posted a growth of about 1 percent of its net profits, which were $ 213.4 million or $ 2,59 $ par action, while its revenue jumped 22 percent to 2.62 billion $.

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Excluding non-recurring items, including a charge of $ 75.4 million $, the company saw its adjusted earnings climb 12%, to 239,4 million or $ 2,91 $ per share.

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