Strong dollar chips away at Transcon revenue

The relative strength of the Canadian dollar against the U.S. dollar and the peso had a significant effect on the second quarter results of Transcontinental Inc. It reported an 11 per cent drop in profit for the quarter, the result of an $11.4 million drop in revenue, largely driven by changes in the exchange rate. Although Transcontinental is the largest consumer magazine publishing company in Canada, three quarters of its business is elsewhere, in commercial printing, book publishing and direct marketing.