The Financial Post reports in its Friday edition that shares in Transcontinental shot higher after the company reported a fourth quarter that topped expectations for both profits and revenue. A Canadian Press dispatch to the Post says that shares in the Montreal company closed at $20.60, up $1.23 on the Toronto Stock Exchange after trading as high as $22.42. Transcontinental reported a profit of $67-million or 76 cents per share for the quarter ended Oct. 28, down from $73.4-billion or 95 cents per share a year ago. On an adjusted basis, Transcontinental earned 99 cents per share for the quarter, up from 91 cents per share in the same quarter a year ago. Revenue for what was the company's fourth quarter totalled $829.2-million, up from $527.2-million, boosted by its acquisition of Coveris Americas earlier this year. Analysts on average had expected an adjusted profit of 76 cents per share and revenue of $777.2-million.