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Sales and profit up at Quarto

21.02.12 | Lisa Campbell

International co-edition publisher Quarto has pledged to "redouble" its efforts to "make and sell good books" as it announced revenue and profit increases last year.

The London-based firm’s sales rose by 6% to $186.126m (£117.5m) for the year to 31st December 2011, as its pre-tax profit increased by 5% to $12.106m (£7.63m). Its net debt also grew by 14% year-on-year to $81.421m (£51.3m).

Chairman and chief executive officer, Laurence Orbach, said: "These results are welcome. Book publishing is a mature business facing significant change. The depth of experience of senior management, allied to adventurous creative teams . . . has produced a winning combination, able to confront challenges and define opportunities."

His comments come at the same time the company said a new c.o.o. would be announced "shortly”.

Sales at Quarto’s publishing division rose 6% to $123.6m in 2011, 61% of which accounted for backlist sales. Operating profit margin increased by 10%, down from 10.1% growth in 2010.

Sales at its co-edition arm were up 4% at $62.5m, 69% of which accounted for reprints. Meanwhile, digital sales at the company totalled $2.1m for the year.

Orbach added: “We continue to redouble our efforts to make and sell good books and give shareholders and employees a fair distribution.  In recognition of the results for 2011, the board is recommending a final dividend of 4.55p per share, up 9.6%."

The company also hailed its acquisitions of Cool Springs Press and Frances Lincoln made during the year, saying they gave "satisfactory performances".

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