Moore forecasts increase in operating profit over next two years

Article Abstract:

Moore Corp. Ltd. CEO Ed Tyler announced on Oct. 22, 1998, that the firm anticipates to report a minimum C$60 million gain in operating profit in 1999, and an increase of C$90 million in operating profit in 2000. The Toronto, Ontario-based firm is confident that by the end of 2000, it can add $120 million annually to its operating profit. In 1997, Moore Corp. posted C$2.6 billion in sales and C$49 million in operating profit. The company's restructuring effort, which were announced in summer 1998, includes the elimination of 1,900 workers and the sale of non-core assets that include forms business in Europe and its Rediform division that is based in Dallas.

Comment:

Expects to report a minimum C$60 mil gain in operating profit in 1999, and an increase of C$90 mil in operating profit in 2000

Business Forms, Manifold Business Forms Printing, Moore Corporation Ltd., Printing industry

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Philip files final '97 results

Article Abstract:

Philip Services Corp., a copper manufacturer headquartered in Hamilton, Ontario, has posted $126.3 million in losses in its fiscal 1997. The firm attributes the unimpressive financial performance to the poor showing of its copper operations. The loss was also spurred by $266.8 million in special charges incurred by the company as a result of the reorganization of its industrial services group as well as by the acquisition of a scrap metal recycling operation. The firm initially registered a loss of $95 million for the year, but later altered the figures twice.

Comment:

Posts $126.3 mil in losses in its fiscal 1997

Copper, Primary Smelting and Refining of Copper, Copper products, Philip Services Corp.

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Sun reaps profit on Financial Post sale

Article Abstract:

Sun Media Corp. of Toronto, Ontario, has posted a pretax gain of C$38.4 million from its sale of The Financial Post to Southam Inc. in reporting its financial results for the third quarter. The gain reaped by second-largest newspaper chain in the country was more than 30% above the bool value of the financial newspaper and was valued at C$27.4 million after paying C$11 million in income on the sale. Sun Media received from Southam a payment worth at an estimated C$160 million for The Financial Post, which carried a book value of around $122 million.

Comment:

Posts pretax gain of C$38.4 mil from sale of The Financial Post to Southam in reporting its financial results for third quarter

Newspapers, Newspaper Publishers, Newspaper publishing, Sun Media Corp.

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