Quebecor confident of progress despite 40.3m third-quarter loss

Quebecor World has said that it is making "sustained progress towards exiting creditor protection" and described itself as a "strong participant in its industry" despite a third-quarter loss of $63.6m (40.3m).

The loss, which compares to a loss of $55.3m in the third quarter of last year and equates to a net loss of $289.9m for the first three quarters of the year, came off the back of a $200m decline in turnover to $1bn for the third quarter.

Jacques Mallette, president and chief executive of Quebecor World, said: "This year we have made substantial efforts to renew our customers to multi-year agreements by demonstrating to them the value of our comprehensive, full-service offering."

The results come as the deadline for claims from creditors was set for 5 December.