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Profile records 13th year of profits after 'solid' performance
01.01.70 | Graeme Neill
Profile Books managing director Andrew Franklin has called the company's latest results "solid" despite its turnover decreasing 14%. The independent publisher reported a turnover of £7.12 million for the year to March 2010, with a pretax profit of over £335,000. However, in the previous year turnover was £8.28m with operating profits at £1.18m.
Franklin said: "This is the 13th year of continuous profitability since the company was founded in 1996. We made a healthy profit after paying everyone in the company a good bonus under the company scheme. We didn’t have a top bestseller, so naturally we are down on last year, but these are solid results and we are very proud of our publishing."
Franklin said Attica Locke’s Black Water Rising has "kickstarted" 2010-11 and added the autumn list is very strong with titles such as Just My Type and New Scientist title Why Can't Elephants Jump?
Looking ahead to next year Franklin said there are "big plans" for Profile's 15th birthday and Serpents Tail's 25th.