PROFITS RISE AT TORSTAR
By Adnews Staff
Improved results from newspapers at Toronto-based Torstar Corp. boosted profits by 53% in the third quarter ending Sept. 30. Newspaper revenue increased 6.9% in the quarter to $325 million, and was up 8.4% to $933 million for the first nine months of the year. Retail advertising increased slightly in the quarter, the first jump since 1994. Net income for the quarter jumped to $11.5 million, compared to $7.5 million during the same quarter in 1995. For the nine months net income rose to $35.4 million, a 31% increase over the same time last year.
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