Postmedia Network Canada Corp said revenues increased 9% in its most recent quarter from last year, led by gains in parcel delivery. Read on
“Economic uncertainty persists and Postmedia, like countless other corporations, is aggressively managing our costs to reflect this challenging environment,” chief executive Andrew MacLeod said in a press release on April 5. “We are using this opportunity to proactively transform our business to architect a sustainable news media model for the future.”
Companies across North America are bracing for a recession, as the fastest inflation in four decades prompted central banks to orchestrate a stunning surge in interest rates to cool economic growth and get inflation under control. Economic growth stalled in the fourth quarter, according to Statistics Canada, and Bank of Canada governor Tiff Macklem has repeatedly said he expects little or even no growth over the first half of 2023.
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