Print companies in Surrey, B.C., might be interested in offering their services to Print the Globe & Mail newspaper in Vancouver, as an Ontario-based Print company has lost the contract to do so. Postmedia Network released their first quarter financial numbers for the period of time that ended on November 30, 2010 last week. While overall revenue for the first quarter represented slight growth versus the data from the same time period last year, specific revenue categories weakened compared to last year. The loss of a contract to Print the Globe & Mail in the Vancouver area contributed to this decline of revenue.
The Print circulation revenue of Postmedia Network properties dropped by more than 3 percent in the first quarter when compared to the same period of time last year. The reason that Postmedia Network gave for the revenue decline was rooted in the almost 5 percent drop in net paid Print circulation, which was itself partly balanced by circulation prices that rose. The Print company’s loss of the lucrative contract to continue printing editions of the Globe & Mail newspaper in the Vancouver area was blamed for the loss of more than $2 million in other revenue for the quarter.
According to the CEO of Postmedia Network, one Paul Godfrey, the company keeps making progress despite its revenue losses in some key areas of business. It is unknown what next steps the Globe and Mail will take, but it is possible that they will want to use printing services in Surrey and the surrounding areas and take advantage of their expertise and intimate local knowledge.
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