Associated loss costs Quebecor
Thursday, 16 August 2007
Quebecor World recorded a £20m drop in turnover in 2006 following the loss of a major contract with Associated Newspapers, according to accounts filed last week at Companies House.
The figures, which reveal for the first time the full effects of losing Associated’s supplement printing contract to Polestar, show turnover for the Corby plant of £30.5m last year, compared to £51.9m in 2005.
However, the firm also recorded a £20m reduction in operating losses to less than £12m in 2006, compared to £32m in 2005.
The scale of job cuts at Corby are also revealed in the figures, with the number of staff dropping from 500 at the end of 2005 to 300 a year later.
Quebecor World was unavailable for comment.
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