HOLLINGER REPORTS FLAT PROFITS
By Adnews Staff
Vancouver-based Hollinger Inc. has reported flat earnings for the three month period ending June 30, mainly because of high newsprint costs. Earnings for the period were $7.1 million, down from $7.3 million during the same period a year earlier. Revenues jumped to $455.1 million from $373.8 million. For the six months, Hollinger showed a profit of $13.6 million, down from $18.5 million a year earlier. In May Hollinger doubled its stake in Southam Inc. of Toronto to 41%. The company publishes 131 daily newspapers worldwide.
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