The strong Canadian dollar was largely responsible for dropping total revenue at Harlequin 7.8%, to C$152.8 million ($115.5 million), in the third quarter ended September 30, according to parent company Torstar. Excluding the impact of foreign exchange, publishing sales were up 1%. Operating profit, protected by foreign exchange hedge contracts, rose 2%, to C$36.2 million ($27 million).
In North America, results were "up marginally in a challenging industry environment," Torstar said. Unit retail sales were flat with last year's third quarter, while results in the direct division were slightly down due to lower sales partially offset by higher sales per book and lower promotion costs.
For the first nine months of the year, operating profit rose 7.8%, to C$95.3 million, despite a 1.4% decline in sales, to C$447.9 million.
