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Harlequin has reported a further drop in revenue and earnings in the third quarter, saying revenues had been "weaker than anticipated" through the first nine months of the year.
Torstar, the publisher's Canadian parent company, announced its results for the three months to the 31st September yesterday (6th November).
Revenue at the publisher was C$100m (£60m), down 6.5% from C$107m (£64m) in the same period in 2012. Operating earnings stood at C$14m (£8m), down 25.5% from C$18.8m (£11m) the previous year.
The report said: "These decreases were the result of revenue declines in the retail print and direct-to-consumer channels in North America combined with challenging economic conditions in overseas markets."
Looking ahead, the report said: "With revenues weaker than anticipated through the first nine months of the year, Harlequin’s fourth quarter results are expected to be lower than the fourth quarter of 2012, but not to the same extent as the decrease experienced in the third
quarter."