LONDON (Alliance News) - Quarto Group Inc Tuesday reported lower first-quarter revenue as it reiterated that it will be more weighted to the second half of the year than in prior years.
In a statement, the illustrated book publisher said revenue amounted to USD28.4 million in the three months ended March 31, compared with USD29.4 million in the corresponding quarter of the prior year.
Net debt was USD77.6 million at the end of March, compared with USD81.1 million at the same stage of the prior year.
"On the basis of current levels of trading, the group is on track to meet management expectations for the year end and deliver both debt reduction and organic growth," the company said in a statement.
Quarto shares were down 1.3% at 193.50 pence on Tuesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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