November 2, 2016 / 10:52 AM / a year ago

Publisher Torstar swings to a quarterly profit

Nov 2 (Reuters) - Torstar Corp, owner of Canada’s largest circulation daily newspaper, swung to a profit in the third quarter after six consecutive quarters of losses.

The company, publisher of the Toronto Star, reported net income attributable to shareholders of C$1.4 million ($1.05 million), or 2 Canadian cents per share, for the quarter ended Sept. 30.

That compared with a net loss of C$164.3 million, or C$2.05 per share, in the same period last year.

The year-earlier period included $147.8 million of impairment charges and $25.3 million of charges related to amortization and depreciation.

Torstar’s operating revenue fell 12.6 percent to C$162.1 million.

$1 = 1.3386 Canadian dollars Reporting by John Benny in Bengaluru; Editing by Ted Kerr

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