29 January 2020
Transcontinental Printing Business Shrinks in Size and Profits
MONTREAL—
Coveris Packaging bought in 2018 is turning Transcontinental into a packaging company
Coveris Packaging bought in 2018 is turning Transcontinental into a packaging company
Transcontinental  core earnings fell in the fourth quarter due to lower revenues from ongoing challenges in its printing sector. Canada's largest printer says earnings excluding one-time items, decreased nearly  to $69.9 million from $87 million  in the last quarter of 2018. Chief executive Francois Olivier said the full year was marked by the integration of packaging firm Coveris , which marked a turning point in its transformation from a commercial printer and media company.
Transcontinental Brampton printing plant being closed
Transcontinental Brampton printing plant being closed
For the full year, revenues increased 15.8 per cent to $3.04 billion due largely to acquisitions. Packaging operating earnings margins improved but Olivier added the printing sector faced another difficult year "marked by the greater than expected decline in our revenues from retailer-related services." "In the coming years, we will continue optimizing our printing platform and seize growth opportunities in certain promising verticals, such as book printing and in-store marketing products."
 
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Good, I feel no sadness for them....
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