Saturday, November 12, 2011

Profit falls for FP newspaper

FP Canadian Newspapers Limited Partnership (FPLP) said Thursday its third-quarter profit declined by $400,000 to $2.8 million in the wake of a $100,000 decline in revenues and an $800,000 increase in operating expenses. Revenues for the quarter totalled $26.4 million versus $26.5 million for the same period in 2010. Operating expenses were $21.9 million versus $21.1 million. The weaker showing left net earnings for the first nine months running 3.3 per cent behind last year's pace -- $10.7 million versus $11.1 million.

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