Transcontinental Q4 profit plunges from prior year's gain from sale of U.S. plant
by The Canadian Press
Last Updated Dec 10, 2020 at 12:42 pm EDT
MONTREAL — Printer and packager Transcontinental Inc. saw its profits drop by more than half in the fourth quarter on lower revenues, but its performance was still better than expected.
The Montreal-based company on Thursday said its net income attributable to shareholders was $51.3 million, or 59 cents per share.
That was a 54.3 per cent decrease from $112.3 million, or $1.28 per share, for the same period last year when it recorded a gain on the sales of a printing plant in California.