Harlequin’s parent company Torstar reported that the publishing unit had fourth quarter sales of $122 million (CA), down three percent from last year, but EBITDA jumped to $21.7 million, almost 40 percent higher than the $15.6 million a year ago. (And yes, that gives them EBITDA margin of of 17.8 percent.) They say “underlying” sales rose $2.6 million, while the strengthening Canadian dollar cost them $6.6 million.
For the full year, sales of $493 million were up 4.3 percent over the previous year. EBITDA for the year was $88.2 million, up 22 percent.
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