Postmedia Network Canada Corp., announced that its revenues had increased about nine per cent in the most recent quarter, compared to last year, spurred by strong results from its parcel-delivery business.
Postmedia said parcel delivery earned $11.8 million during the three months ended Feb. 28, compared with $589,000 in the same period in 2022, when the business was still in its infancy.
The gains outweighed declines in Postmedia’s core publishing operations, where advertising revenue dropped 3.2 per cent to $54.5 million and circulation revenue decreased 7.2 per cent to $37 million.
Overall, revenue for the quarter was $111.8 million, compared with $102.5 million a year earlier.
You can read more about the company’s Q2 results here.