Quebecor Worlds third-quarter net income fell 20% due, it says, to the after-effects of the 11 September attacks, and its outlook for the rest of the year is "uncertain".

President and chief executive Charles Cavell said the group traditionally earned half of its third-quarter net income during September, but added: "The shock experienced by the US economy dramatically affected our September results."

Revenue for the three months to 30 September fell 1% to 1bn ($1.6bn), while operating income dropped 15% to 119m.

Quebecor World said the restructuring plans it announced last month (PrintWeek, 12 October) would be put in place over the next six months, leading to an annual pre-tax earnings improvement of 31m.