NEW! Investment Companies Centre

Quarto wary over US situation

Related Companies

  • Media

    • News for Spread Betters

    PreviousPrevious
    NextNext

    There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

    Get full details about Marketmaker:Investor Edition here. Advertisement

    Date: Thursday 21 Aug 2008

    LONDON (ShareCast) - Heavy one-off costs pushed book publisher Quarto deep into the red in the first half, though the underlying picture was stronger than expected.

    Quarto lost £3.1m in the first six months of 2008 compared to a profit of £400,000 last time. Revenue increased by 20% to £43.8m with underlying operating profit up by 33% to £2.3m.

    Co-edition segment revenues rose by 12% to £13.4m and operating profit by 85% to £0.7m. This segment’s second half is historically much the stronger, Quarto said.

    Publishing segment revenues rose by 24% to £30.4m, aided by a first time contribution from MBI. The discontinuance of art print publishing meant a one-off charge of £2.6m.

    ""Thanks to our diversified international portfolio, trading in the first half was much stronger than we might have expected. The Co-edition segment produced extremely good results," chairman and chief executive Laurence Orbach said.

    "With 60% of our (publishing) revenues arising in the United States, much will depend upon trading in the last quarter of the year," he added.

    The interim dividend is unchanged at 3.15p.









    Digital Look have been voted
    "Best Research and Information Provider"

    4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
    Registered in England and Wales (registered no. 3678570).