May 9, 2012 / 10:48 AM / in 6 years

Torstar posts higher profit, says print advertising still weak

May 9 (Reuters) - Canadian publisher Torstar Corp’s first-quarter profit almost doubled but the company said the print advertising market was still weak.

Net income attributable to equity shareholders rose to C$29.3 million, or 37 Canadian cents per share, from C$15.4 million, 19 Canadian cents per share, a year ago.

On an adjusted basis, it earned 24 Canadian cents per share, up from 22 Canadian cents per share, in the year-ago period.

Revenue for Torstar -- publisher of the Toronto Star, Canada’s biggest daily newspaper -- fell slightly to C$350.8 million from C$351.4 million a year ago.

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