Less Ads, More Data, More Tools Register for FREE

Pin to quick picksQRT.L Share News (QRT)

  • There is currently no data for QRT

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Quarto Profit More Than Doubles As Lower Costs Offset Weak Revenue

Fri, 20th Mar 2015 09:27

LONDON (Alliance News) - Illustrated books publisher The Quarto Group Inc on Friday said its pretax profit more than doubled in 2014 despite lower revenue as the group boosted its margins through cost-cutting and an exceptional charge taken last year was not repeated.

Quarto said its pretax profit for 2014 was USD12.2 million, compared to USD5.8 million last year when the company was hit by a USD3.4 million exceptional restructuring charge. The profit was also pushed higher by lower administrative expenses and lower cost of sales, which slightly outpaced a fall in revenue.

Revenue was down to USD172.6 million from USD176.3 million, hit by issues in the US caused by a large wholesaler going out of business and by its performance in New Zealand resulting from delays to the merger of two of its businesses. It was also hit by a fall in revenue from its Hong Kong business, down to USD13.3 million from USD21.2 million due to fewer order being placed by two major customers.

Despite the revenue fall overall, the company did report a 17% increase in children's publishing revenue, while foreign rights revenue increased 10%.

Quarto said it has proposed a final dividend of 4.95 pence, giving it a total dividend of 8.3 pence for the year, up 5% year-on-year.

"We have made good progress in 2014 continuing the changes made in 2013 and we have delivered further debt reduction and earnings growth. This was achieved against some challenging circumstances in certain markets and channels, particularly in the first half of the year. However, Quarto remains a robust and cash generative enterprise," said Chairman Tim Chadwick.

Quarto shares were up 4.9% to 173.00 pence on Friday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

More News
15 Feb 2011 11:33

Small caps round-up: Forte Energy, Stellar Diamonds, Billing Services...

Miner Forte Energy has discovered further significant intersections after drilling 10 new holes at its A238 uranium prospect in Mauritania. The holes were drilled immediately north of the main shoot of the A238 system "provide a clearer geological picture of the transition from the narrow, low gra

Read more
22 Oct 2010 13:45

Quarto may beat expectations as Brazil explodes

Specialist book publisher Quarto says it could beat expectations for the full year after a strong performance in the third quarter. The company, whose titles range from arts and crafts publications to cookbooks, saw pre-tax profits rise to £3.6m in the nine months to September 30, from £3.1m over t

Read more
30 Jun 2010 15:24

Quarto Group Sees 2010 Performance Ahead Of Views

LONDON (Dow Jones)--Quarto Group Inc. (QRT.LN), a publisher of illustrated non-fiction books, said Wednesday its performance in 2010 is running ahead of expectations with revenues up, inventory down, and cash generation stronger than forecast. MAIN FACTS: -Shares at 1420 GMT up 5 pence, or 5

Read more
26 Apr 2010 10:11

Small caps round-up: Petrel, Titanium Resources, RCG ...

Petrel Resources rocketed higher Monday after announcing work is to restart in Iraq after settling all outstanding issues on the Subba and Luhais oilfield development in the south of the country. The AIM-listed oil and gas explorer no longer has any liability or exposure to any possible project lo

Read more
23 Mar 2010 13:20

Small cap round-up: LMS Capital, Winkworth, Morson...

Investment firm LMS Capital's net asset value fell 6% to 84p last year as the pound strengthened against the dollar. The return on the investment portfolio for the year was a net loss of £4.9m (2008: net loss of £36.7m). "Our low levels of debt and broadly balanced investment portfolio position us

Read more
5 Nov 2009 11:31

Small caps round-up: On-line, Oneclick, Mallett...

On-line fell back Thursday after reporting an increase in its full-year loss to £267,000 from £137,000 a year ago on turnover little changed at £126,000. The company, which has stakes in ADVFN and ALL IPO, wrote off £298,000 on investments, mostly due to Smoking Gun which de-listed from the Plus ma

Read more
20 Sep 2009 11:46

Sunday tips round-up: Balfour Beatty, Booker, PHP

Balfour Beatty has unveiled a major acquisition, funded through a £353m rights issue. Balfour is offering three shares for seven at 180p each, a 48pc discount to the previous closing share price of 344p. The shares are trading on a December 2009 earnings multiple of 9 times and yielding 3.8pc. The s

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.