Quebecor reports profit growth

Quebecor World, the world's largest producer of print media, reported a 13% increase in net incomes in the first quarter of 2001. The profit resulted due to improvement in majority of its markets in Europe and Latin America. A slump in the US economy and rising energy costs hindered company growth in the domestic market. UK marked improvement with the consumption of recovered papers and gain in tissue, packaging and newsprint group.