SOUTHAM PROFITS RISE
By Adnews Staff
Toronto-based Southam Inc. profit increase by 38% during the three-month period ending June 30. Net income rose to $15.2 million, up from $11 million for the second quarter last year, while revenue climbed to $266 million from $250.9 million. A large part of Southam's gain has been attributed to its selling of the Coles book chain in March. Also, the company's newspaper circulation rose 8% and advertising revenue increased 7% over the year. Business communications earnings were up, with magasine ad pages up 5% in Canada and 8% in the U.S.
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