LONDON (Thomson Financial) - Book publisher Quarto Group Inc. said
first-quarter operating profit almost doubled year-on-year, boosted by a 22
percent rise in revenues during the "normally quiet" period, adding it expects
"another successful year".
Revenues for the quarter to March 31, 2008, rose to 21.0 million pounds from
17.2 million a year earlier, helped by a first time contribution of 3.2 million
pounds from MBI and improved sales in the co-edition segment, which rose 15
percent year-on-year.
Gross margin overall increased to 34 percent from 33 percent, and operating
profit rose to 268,000 pounds from 142,000 pounds. `
"Looked at together with the trailing 12 months' results, they (the results)
suggest that our areas of book publishing are rising above wider economic
uncertainties. Our co-edition forward order book is 27 percent ahead of the same
time last year," said chairman Laurence F Orbach.
Noting that the first-quarter typically accounts for no more than 18 percent
to 20 percent of Quarto's annual revenues, the group said its revenues for the
trailing 12 months -- ended March 31, 2008 -- rose to 103.8 million pounds from
92.9 million, operating profit rose 12 percent to 10.7 million pounds and pretax
profit rose to 7.5 million pounds from 7.3 million.
TFN.newsdesk@thomsonreuters.com
jro/lam
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