Quercus is expected to make profits of £7.3m in 2010 after increasing its marketshare over the year by 103% and recording "double-digit growth across its entire offering". The publisher responsible for Stieg Larsson's bestselling Millennium Trilogy revealed the group's share jumped to 1.37%, up from 0.66% in 2009 in a market that declined by 1.7%.
Quercus chief executive Mark Smith said market expectations suggested the company will increase its profits by £6m in a year, from £1.2m at the end of 2009 to £7.3m in 2010. Predictions also suggest the group will have sales of £33m.
E-books accounted for 3% of the company's revenue last year, an increase of 400-500% on the year before, Smith said.
Smith described the last 12 months as a defining year in its existence. "2010 was a transformational year for us," he told The Bookseller. "It is the consequence of a few things—the Larsson trilogy doing brilliantly, authors who are on their third or fourth books finding stronger audiences and a widening distribution market."
The company is also heralding the success of imprint Silver Oak, which it launched in North America with Sterling Publishing Co, and is currently enjoying a top 10 success in the New York Times chart with its debut title Three Seconds, by Anders Roslund and Borge Hellstrom.
Quercus is also increasing sales and distribution in Australia through a partnership with Pan Macmillan.