16 Jun 2009 14:00
Tuesday June 16, 2009
THE QUARTO GROUP, INC.
Annual Meeting Statement
At the AGM this afternoon of Quarto (QRT.L), the London-based international book publisher, Laurence F. Orbach, Chairman and Chief Executive, will state:
"Since our Q1 announcement seven weeks ago, the trading performance has remained satisfactory and the trading outlook has not changed appreciably. Sales in the UK continue to remain usefully ahead of last year's, and the international co-edition segment's forward orders continue to be robust. In the US, Quarto's largest single market, there are faint signs of stirring demand driven both by the ending of the year-long successful inventory reduction exercises undertaken by some large retailers, and expectations of seasonal demand increases in the latter part of the year."
Notes for Editors:
Quarto is an international book publisher and producer with two principal strands of activity: its Publishing segment publishes books, under imprints owned by the Group, in the US, Australia and the UK; and its Co-Edition Publishing segment creates books that are licensed to other publishers for publication under their own imprints in many languages around the world.
For the year ended December 31, 2008, Quarto increased revenues by 13% to £112.7 million and adjusted EBITDA by 10% to £22.0 million. Pre-tax profit was flat at £7.7 million but adjusted diluted earnings per share increased by 9% to 26.5p. Unchanged total dividends per share of 7.15p (including a final dividend for the year of 4.0p) were proposed.
Enquiries:
The Quarto Group, Inc.
Laurence Orbach (Chairman & CEO) 020-7700 9003
Mick Mousley (Finance Director) 020-7700 9004
Bankside Consultants Limited
Charles Ponsonby 020-7367 8851