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Publisher Torstar reports fourth-quarter profit vs yr-ago loss
March 1, 2017 / 11:54 AM / 9 months ago

Publisher Torstar reports fourth-quarter profit vs yr-ago loss

March 1 (Reuters) - Torstar Corp, the owner of one of Canada’s largest circulation daily newspapers, reported a fourth-quarter profit, compared with a loss a year earlier, when the company recorded a one-time charge of C$213.3 million ($160.3 million).

The company, which publishes the Toronto Star and a string of other titles, said net income attributable to shareholders was C$1.3 million, or 1 Canadian cent per share, in the quarter ended Dec. 31, compared with a loss of C$234.8 million, or C$2.91 per share, a year earlier.

Torstar’s latest quarter included C$15.6 million of amortization and depreciation and C$7.5 million of non-cash impairment charges.

Revenue fell nearly 12 percent to C$188.4 million. ($1 = 1.3308 Canadian dollars) (Reporting by John Benny in Bengaluru)

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