FP advertising sales rise
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Hey there, time traveller!
This article was published 10/11/2010 (5414 days ago), so information in it may no longer be current.
FP Canadian Newspapers Limited Partnership, owner of the Winnipeg Free Press, Brandon Sun and Canstar Community News, recorded its first year-over-year increase in advertising sales since the third quarter of 2008.
For the third quarter ending Sept. 31. the company reported total revenue of $26.5 million, a 0.3 per cent decrease from the same period last year.
Total EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $5.4 million, an increase of $700,000 or 14.9 per cent from the same quarter last year.
Net earnings were $3.2 million in the quarter, compared with $1.1 million in the same quarter last year.
FP Newspapers Income Fund owns securities entitling it to 49 per cent of the distributable cash of FP Canadian Newspapers Limited Partnership.
The fund had net earnings of $1.5 million in the quarter, compared with net earnings of $1.3 million in the same quarter last year.
Total advertising revenue for the quarter was $17.5 million, a $0.2 million or 1.2 per cent increase over last year, with display advertising, the largest advertising revenue category, up 9.4 per cent.