Glacier profit jumps

Glacier Media, which employs hundreds of Local 2000 members at B.C. newspapers such as the Cranbrook Daily Townsman, Kamloops Daily News, Prince George Citizen, Alaska Highway News, and Prince Rupert Daily News, saw its first-quarter profit jump to $5.4 million from $2.4 million in the same quarter last year. Revenue was up 4.9% to $57.5 million from $54.8 million as the economy recovered.

The Vancouver-based company said this week that the revenue growth was the first since the recession began. It also reported that local newspaper revenue was higher in every province where the company operates, which are B.C., Alberta, Saskatchewan, Manitoba, Ontario and Quebec.

The company said it had reduced expenses by more than $14 million a year through cost cutting and expects profitability to continue to improve as a result of this and the economic recovery.

This entry was posted on Friday, May 14th, 2010 at 8:44 am and is filed under Local News.