Full-year sales at The Quarto Group fell 5 percent to £106.6 million. Adjusted operating profit dropped 10 percent to £10.2m, though reported pretax profit doubled from last year to £3.6m. The book publishing division had sales for the year of £70.1m, more or less flat compared to last year, and operating profit ahead by 7% at £6.7m. Their co-edition division took a bigger hit, as revenues fell 15% to £36.5m, and operating profit dropped 22% to £5m, with “much of the deterioration” blamed on Quarto’s publishing services unit in Hong Kong. Chairman Laurence Orbach, citing “decent results” borne out of […]
