Feb 5 Canadian telephone directory publisher
Yellow Media Ltd's fourth-quarter adjusted profit halved
as print advertising sales remained weak.
Debt-laden Yellow Media has been looking to transform itself
into a digital company from a print-dominated business as it
struggles to sell advertising space in its traditional Yellow
Pages and directories.
After adjusting for an impairment charge of C$300 million
and a gain on settlement of debt, the company earned C$24.0
million, or 70 Canadian cents per share, compared with net
income from continuing operations of C$48.2 million, or C$1.53
per share, a year earlier.
Net profit from continuing operations for the quarter ended
Dec. 31 was C$823.5 million ($824.3 million), or C$29.30 per