Highlights
*Increase in revenues and solid profitability in the Packaging and Printing Sectors for the quarter.
*Revenues of $775.8 million for the quarter ended October 31, 2021; operating earnings of $80.5 million; and net earnings attributable to shareholders of the Corporation of $39.2 million ($0.45 per share).
*Made significant investments in research and development laboratories with state-of-the-art equipment in the state of Wisconsin, to drive growth and innovation and optimize the creation of sustainable solutions for customers.
*Acquired H.S. Crocker on November 1, 2021, broadening the packaging solutions portfolio in the food sector as well as expanding pharmaceutical and medical expertise in the advanced coatings product offering.
*Retirement of François Olivier on December 9, 2021 and Peter Brues will assume the position of President and Chief Executive Officer on December 10, 2021.
Transcontinental Inc. (TSX: TCL.A TCL.B) announces its results for the fourth quarter and fiscal year 2021, which ended October 31, 2021.
“I’m very satisfied with the results for fiscal year 2021, said François Olivier, President and Chief Executive Officer of TC Transcontinental. Excluding the significant negative impact of the rise in the price of resin, the reduction in the Canada Emergency Wage Subsidy and the exchange rate variation, our three sectors delivered excellent operating performance.
“In our Packaging Sector, our main engine of long-term growth, demand remains strong. Through our operational efficiency initiatives and our price increases resulting from higher raw material costs, we successfully offset inflationary pressures, especially with respect to resin prices. In addition, we continued to invest in our innovation initiatives to meet our customers’ sustainability objectives based on the conviction that our sustainable packaging will be a key driver of our long-term growth.
“Our Printing Sector posted another quarter of strong organic growth in revenues and generated solid profitability. Growth in the fourth quarter was especially significant for our in-store marketing and book printing activities. The proportion of our growth activities in the Printing Sector continues to increase, which allowed us to end the fiscal year with higher revenues and in a favourable position for the future. Meanwhile, the Media Sector had an exceptional year in terms of both revenues and profitability.
“To conclude, following the success of our transformation, I am proud to leave behind an international company that is well positioned in its three sectors and has a solid financial position, a proven strategy as well as a seasoned new President and Chief Executive Officer and management team. I am very proud of our accomplishments and confident that TC Transcontinental has a brilliant future ahead.”
more at: https://tctranscontinental.com/en-us/company-overview/news-room/press-releases/transcontinental-inc-announces-its-results-for-the-8