Postmedia sees double digit digital advertising revenue growth

Postmedia Network Canada Corp. has released its Q4 earnings information for the three months and year ended August 31, 2019.

Highlights from the Quarter:

  • Continued digital growth – Eleventh consecutive quarter of double digit digital advertising revenue growth – up 10.8%.
  • Successful refinancing of our long-term debt – As a result of the refinancing transaction completed on September 9, 2019 Postmedia will not have any notes obligations maturing over approximately the next 4 years.
  • Business Transformation – Initiatives implemented in the quarter are expected to result in approximately $3 million of net annualized cost savings – in the quarter we realized a 9.4% reduction in operating costs.1
  • Operating income before depreciation, amortization, impairment and restructuring was $13.3 million in the quarter and excluding the journalism tax credit in Fiscal 2019, represents an increase of $1.4 million.

To read more about the most recent earnings report, please click here.