SOUTHAM REPORTS PROFIT
By Adnews Staff
Toronto-based Southam Inc. reported an increase in revenue for the third quarter ending Sept. 30. Revenues jumped to $286.8 million, compared to $266.9 million during the same period a year earlier. Newspaper group revenue rose 25% to $53.5 million, while revenues on a same-paper basis were up 11.7%. For the first nine months of 1997, Southam reported a net income of $73 million on revenue of $848.7 million, compared to $57.2 million on revenue of $800.6 million. Southam says its strong performance is due to strong revenue on a same-paper basis, acquisitions and lower newsprint prices.
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