Quebecor World Inc. has reported net earnings of $64.2 million for the second quarter compared to $63.2 million on year ago. The stall in profits, although less than expected, was attributed to weak advertising markets in its magazine, catalog and book businesses.
The Montreal-based printer reported revenue of $1.47 billion compared to $1.5 billion. The quarter ended June 30.
The closure of about 12 plants together with acquisitions in Europe and the United States helped soften the impact of the ad slump, according to the firm.
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