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RNS Number : 9811B
Quarto Group Inc
05 November 2009
Thursday November 5, 2009
THE QUARTO GROUP, INC - INTERIM MANAGEMENT STATEMENT
"in line with expectations"
Quarto (QRT.L), the fully-listed international book publisher based in London,
announces its interim management statement for the period from July 1, 2009 and
its unaudited results to September 30, 2009.
"The results for the year to date are in line with expectations."
"In the face of continuing weak demand in the US, our major market, EBITDA for
the 9 months to September 30, 2009, has increased by 7% to GBP15.2 million.
Revenues in the UK continue to run ahead of the comparable 2008 figures. At this
stage, international co-edition book publishing revenues are ahead of last
year's and, for the full year, our co-edition order book continues to be 6%
ahead." reported Laurence F Orbach, chairman and chief executive of Quarto.
"The US market remains a big challenge, with cyclical as well as structural
issues. However, attention to housekeeping has improved the Group's gross
margins, and overheads are down. "
"Since July 1, 2009, there has been no material change in the financial position
of the Group."
Unaudited results, before amortization of non-current intangibles and
non-recurring items
+-----------------------------------------+---------+--------+---------+
| Nine months to September 30 | Results | Growth |
+-----------------------------------------+------------------+---------+
| (GBP'000) | 2009 | 2008 | % |
+-----------------------------------------+---------+--------+---------+
| | | | |
+-----------------------------------------+---------+--------+---------+
| Revenue | 74,653 | 79,113 | (6)% |
+-----------------------------------------+---------+--------+---------+
| | | | |
+-----------------------------------------+---------+--------+---------+
| EBITDA | 15,175 | 14,161 | 7% |
+-----------------------------------------+---------+--------+---------+
| | | | |
+-----------------------------------------+---------+--------+---------+
| Operating profit | 5,657 | 6,111 | (7)% |
+-----------------------------------------+---------+--------+---------+
| | | | |
+-----------------------------------------+---------+--------+---------+
| Profit before taxation | 3,093 | 3,386 | (9)% |
+-----------------------------------------+---------+--------+---------+
| | | | |
+-----------------------------------------+---------+--------+---------+
| | | | |
+-----------------------------------------+---------+--------+---------+
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
| Trailing twelve months to September 30 | Results | Growth |
| (GBP'000) | | |
+-----------------------------------------+-------------------+---------+
| | 2009 | 2008 | % |
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
| Revenue | 108,299 | 111,597 | (3)% |
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
| EBITDA | 22,982 | 22,322 | 3% |
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
| Operating profit | 10,896 | 11,344 | (4)% |
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
| Profit before taxation | 7,371 | 7,667 | (4)% |
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
| | | | |
+-----------------------------------------+---------+---------+---------+
Notes for Editors:
Quarto is an international book publisher and producer with two principal
strands of activity: its Publishing segment publishes books, under imprints
owned by the Group, in the US, Australia and the UK; and its Co-Edition
Publishing segment creates books that are licensed to other publishers for
publication under their own imprints in many languages around the world.
For the year ended December 31, 2008, Quarto increased revenues by 13% to
GBP112.7 m and adjusted EBITDA by 10% to GBP22.0 m. Adjusted pre-tax profit was
marginally increased at GBP7.7 m - an eighth successive annual increase - and
adjusted diluted earnings per share increased by 9% to 26.5p. Unchanged total
dividends per share of 7.15p were paid.
Enquiries:
The Quarto Group, Inc. 020-7700 9004
Laurence Orbach (Chairman and CEO)
Mick Mousley (CFO)
Bankside Consultants Limited 020-7367 8851
Charles Ponsonby
This information is provided by RNS
The company news service from the London Stock Exchange
END
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