21 Oct 2011 07:00
For Immediate Release | 21 October 2011 |
The Quarto Group, Inc.
("Quarto" or the "Company")
Q3 Interim Management Statement
Quarto (Full List: QRT.L), one of the largest international co-edition book publishers based in London, announces its Interim Management Statement for the period ended 30 September 2011.
In contrast to the prevailing economic strains and uncertainties, Quarto's solid results for the 9 months, and the trailing 12 months, ended September 30, 2011 demonstrate real growth and higher profits. Although the UK accounts for only about 16 per cent of group revenues, much improved trading in the third quarter, with a bestselling launch of the paperback version of The Secret Life of Bletchley Park, resumed buying by the newly invigorated Waterstone's chain, and a useful maiden contribution from Frances Lincoln, acquired in mid-August, are worth noting, and counter the generally negative rumblings coming from the high street.
Last week's Frankfurt Book Fair, the leading international book publishing trade show, was businesslike and productive, and we remain comfortable that, in the final, and important, last quarter of the year we shall meet our expectations for the full year.
Unaudited results, before amortization of non-current intangibles and non-recurring items, for the nine months to September 30, 2011:
Nine months to September 30, 2011 ($'000) | Results | Growth | |
2011 | 2010 | % | |
Revenue | 130,745 | 124,690 | 5% |
EBITDA | 24,752 | 23,920 | 3% |
Operating profit | 9,449 | 9,185 | 3% |
Profit before taxation | 6,046 | 5,549 | 9% |
Trailing twelve months to September 30 ($'000) | 2011 | 2010 | Growth % |
Revenue | 182,463 | 177,882 | 3% |
EBITDA | 37,088 | 36,344 | 2% |
Operating profit | 16,642 | 16,529 | 1% |
Profit before taxation | 12,002 | 11,586 | 4% |
For further information please contact:
The Quarto Group, Inc. | |
Laurence Orbach (Chairman and CEO) Mick Mousley (CFO)
| 020 7700 9004 |
Buchanan Communications | |
Mark Edwards Suzanne Brocks Christian Goodbody | 020 7466 5000 |
About Quarto:
Quarto is an international co-edition book publisher with two principal strands of activity: the Publishing segment publishes books, in the US and the UK, under imprints owned by the Group; the Co-Edition Publishing segment creates titles that are licensed to third party publishers around the world for publication under their own imprints in many languages and many geographies.