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International co-edition publisher Quarto has increased its revenue and profit in the first nine months of 2011, with "much improved trading in the third quarter".
In its Q3 interim management statement the company, headed by chairman and c.e.o. Laurence Orbach, reported sales up by 5% to $130.7m (£82.8m) for the nine months to 30th September 2011, with profit before tax, amortisation of non-current intangibles and exceptional items up 3% to $24.7m (£15.7m) over the period. Profit before tax had increased by 9%, to $6.0m (£3.8m).
Meanwhile, for the twelve months to September 30th 2011, revenue was up by 5% to $182.5m (£115.8m), with EBITDA (earnings before interest, taxes, depreciation, and amortisation) up 2% to $37.1m (£23.5m).
The statement said the UK accounts for about 16% of group revenues, and attributed the improved third quarter trading to its paperback launch of The Secret Life of Bletchley Park, "resumed buying by the newly invigorated Waterstone's chain, and a useful maiden contribution from Frances Lincoln, acquired in mid August", adding that these successes "counter the generally negative rumblings from the high street".
It called last week's Frankfurt Book Fair "businesslike and productive" and added: "We remain comfortable that, in the final, and important, last quarter of the year we shall meet our expectations for the full year."