The UK’s Quercus reported results for the first six months of 2012, with “a predicted decline in the overall contribution from the Larsson franchise” registering “in a contribution…that fell short of our expectations” and is expected to continue. Sales of £9.24 million were down £2.7 million from a year ago, with £2 million of that gap attributed to lower Larsson receipts. (By our reckoning that means “underlying” non-Larsson sales declined about 7 percent.) Pre-tax profit suffered more, at £.6 million, compared to £3.4 million a year ago. Management reiterates that “Over the past few years we have been reinvesting our […]
