Sales at Torstar’s Harlequin unit fell in their first quarter, ending March 31, at $113 million down more than 9 percent from $124.5 million a year ago. EBITDA rose over 9 percent, though, to $23.7 million.
The company says North American retail and overseas sales fell, as digital revenues had “strong growth.” In a bit of a paradox, the rising Canadian dollar accounts for $10 million of the drop in sales, but foreign exchange also contributed to the rise in profits.
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