Business in Vancouver owner Glacier Media Inc. (TSX:GVC) announced May 14 that it increased revenue 25.2% to $76.4 million and boosted gross profit 11.8% to $24.8 million in the quarter that ended March 31, compared with the same period in 2011.
“Management expects that growth will continue in Glacier’s various business segments,” the company said in a statement.
“Economic conditions continue to strengthen across the majority of Glacier’s verticals, although not all markets have recovered to the same extent as others.”
Glacier continues to place what it calls a “significant focus and related investment” on online content.
Digital revenue now represents more than 25% of Glacier’s trade information and business and professional information revenue.
Late last year, Glacier announced that it was paying Postmedia Network Inc. (formerly Canwest) $86.5 million to buy 21 publications.
That acquisition included papers such as the Victoria Times Colonist, Vancouver Courier and North Shore News.
The transaction also included all newspapers in the Lower Mainland Publishing Group – papers such as the Burnaby Now, Richmond News and the Surrey Now.
