Transcontinental will cut your risk

Article Excerpt

TRANSCONTINENTAL INC. $13 remains a buy. The company (Toronto symbol TCL.A; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 87.3 million; Market cap: $1.1 billion; Price-to-sales ratio: 0.7; Dividend yield: 6.8%; TSINetwork Rating: Average; is Canada’s leading commercial printer. It also makes plastic packaging for consumer and industrial products. The company now plans to close its printing plant in Prince Edward Island. That’s partly because Torstar (see page 7) recently announced it would stop publishing its Star Metro free daily newspapers. The PEI plant printed the Halifax version of that paper. Transcontinental has not yet said how much it expects to pay in severance and other costs. However, the move should benefit investors as it helps cut the company’s reliance on cyclical advertising. advertising…

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