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Canadian publisher Harlequin suffers difficult 2004 first quarter.

M2 BEST BOOKS-(C)2000-2004 M2 COMMUNICATIONS LTD

A weak performance by Canadian publisher Harlequin has caused a fall in revenue for its parent company Torstar who saw operating revenue for its first quarter in 2004 fall to CAD352.3m.

Although Torstar's newspaper unit performed well gaining an increase in operating profit of 20.3%, Harlequin's results offset its progress. Torstar made a 2004 first quarter profit of CAD23m down CAD2.1m on the 2003 results.

A spokesperson for the company called the results 'mixed' saying that 'Harlequin had a more difficult first quarter, with reduced revenues and profits reflecting a very challenging environment in mass-market paperbacks', reports CBC News.
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Publication:M2 Best Books
Article Type:Brief Article
Geographic Code:1CANA
Date:May 6, 2004
Words:110
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