Transcontinental Inc. announces its financial results for the first quarter of Fiscal 2017

*Revenues increased by $4.7 million, or 0.9%.
*Operating earnings increased by $10.8 million, or 20.9%. Adjusted operating earnings, which exclude restructuring and other costs (revenues) and impairment of assets, increased by $4.2 million, or 7.4%.
*Net earnings increased by $5.4 million, or 14.5%. Adjusted net earnings, which exclude restructuring and other costs (revenues) and impairment of assets, net of related taxes, decreased by $0.1 million, or 0.2%.
*Conclusion of an expanded agreement with Lowe’s Canada which includes the renewal of the agreement with RONA and the addition of the printing of Lowe’s flyers in Canada. This agreement represents revenues of $200 million over five years and includes all services to retailers for all Lowe’s and RONA banners in the country.
*The Board of Directors approved an 8.1% increase in the dividend per share to $0.80 per year.

Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for the first quarter of Fiscal 2017, which ended January 29, 2017.

“I am proud of our results for the first quarter, which show an increase in our revenues and profitability while we successfully continue our transformation”, said François Olivier, President and Chief Executive Officer of TC Transcontinental. “Our performance confirms the effectiveness of our strategy, which we are executing in a disciplined manner.”

“For the printing division, we are pleased to announce that we have entered into an expanded agreement with Lowe’s Canada. In addition to renewing our agreement for the full range of services offered to RONA, we have expanded our business relationship with Lowe’s, which has entrusted us with the printing of its flyers in Canada. This multi-year agreement, which includes all our retailer-related services for all of the Lowe’s and RONA banners across the country, reflects their support of Canadian suppliers. It is also a mark of confidence in the quality of our services.”

“In the Media Sector, the efficiency measures deployed over the last few quarters, combined with our exit from all our interactive marketing activities, continued to mitigate the impact of lower local newspapers advertising revenues on our profitability.”

“As for our packaging division, we are finalizing the integration of Flexstar Packaging, which is proceeding according to plan. To support our transformation and our growth ambitions in this division, we continue to deploy significant resources to develop our sales force and invest in our manufacturing platform to meet our future needs. Considering our growing sales funnel, we are confident that these initiatives will yield results.”

“With our sound financial position and our significant cash flows, we are well positioned to ensure our sustainable growth and continue to diversify our assets into packaging.”
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