News

« Headlines

Faber sales top £17m

05.02.08 Tom Tivnan

Faber had record turnover for the second year running in the 12 months to end-March 2007, with sales up 6.2% to just over £17m. Operating profit fell sharply to £417,000 from £1.1m. Faber said the decline in profit was due to over-inflated tax and retirement benefits in the previous financial year.

Faber c.e.o. Stephen Page said he was “very satisfied” with the results. He added: “We have published another broad list of quality books, including bestsellers, and have remained committed to our publishing in the arts while we have also invested in the future. We have achieved budgeted profits in a very tough UK market.”

Highlights from the publishing programme included novels by Peter Carey and Andrew O’Hagan, both longlisted for the Man Booker Prize. The non-fiction list included Faber’s collaboration with the QI programme, The Book of General Ignorance, which it said shifted over 500,000 copies.

The year saw growth in Faber’s Independent Alliance, with expansion by Quercus Books and Profile Books acquiring fellow independent Serpent’s Tail. Faber was also named the National Book Tokens Trade Publisher of the Year 2007 by the Independent Publishers Guild.

Stephen Page financial results Faber

See Also