Winnipeg Free Press - ONLINE EDITION

Profit increases despite declining revenue for FP newspapers

  • Print

The company which owns the Winnipeg Free Press, the Brandon Sun and a number of Manitoba regional and community newspapers has reported an increase in first-quarter profit despite a broad-based decline in revenues.

FP Canadian Newspapers Limited Partnership (FPLP) said today its net earnings for the three-month period grew by $600,000, or 26 per cent, to $2.9 million from $2.3 million in the same period last year.

That was despite revenues falling by $1.3 million, or 4.6 per cent, to $25.7 million. The company said circulation, display advertising, classified advertising, and flyer distribution revenues were all down during the quarter, in part because of two fewer publishing days during the first quarter of this year than in the first three months of 2012. The only category where revenues were up was commercial printing, which saw a $200,000 improvement.

The saving grace was a $1.7 million (7.2 per cent) reduction in operating expenses due to a combination of lower newsprint and employee compensation costs, and a 16.6 decline in "other" expenses.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 11.8 per cent to $4.4 million from $3.9 million.

FP Newspapers Inc. (FPI), the publicly traded entity which is entitled to 49 per cent of FPLP’s distributable cash, also reported its first-quarter results today prior to its annual shareholders meeting.

Its net earnings grew to $1.0 million, or 14.1 cents per share, from $800,000, or 11.6 cents per share, in the first three months of 2012.

 

 

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Weekend springtime weather with Doug Speirs - Apr 19

View more like this

Photo Store Gallery

  • Goslings with some size head for cover Wednesday afternoon on Commerce Drive in Tuxedo Business Park - See Bryksa 30 Goose Challenge- Day 12- May 16, 2012   (JOE BRYKSA / WINNIPEG FREE PRESS)
  • PHIL.HOSSACK@FREEPRESS.MB.CA Winnipeg Free Press 090528 STAND UP...(Weather) One to oversee the pecking order, a pack of pelican's fishes the eddies under the Red River control structure at Lockport Thursday morning......

View More Gallery Photos

Poll

Now that the snow is mostly gone, what are your plans?

View Results

Ads by Google