Penguin Strong In US, As Currency and Warehouse Problems Weigh Down Overall Results US sales and profits for the Penguin Group were “up significantly” for the first half of 2004, while worldwide sales for Penguin fell compared to last year and profits dropped. Sales of $627 million for the group were down 7 percent, though the company says results were even on an “underlying” basis. Operating profits fell by 52 percent to $18.4 million (termed a 15 percent “underlying” drop). The company says that, “The weakness of the dollar is the principal reason for the decline in reported profits,” along […]
