Red House profits tumble

<p>

Liz Bury</p><p>

Sales and profits at Red House Books fell sharply during a year of reorganisation at the company; a year which also saw the loss of 25 jobs.</p><p>

Operating profit at the children's book club business fell by 23% to &#163;1.5m, and pretax profit was down 24%, also to &#163;1.5m, for the year to end-May 2000. </p><p>

Two customer service teams covering the home book club and school book club businesses were merged during the year, leading to a &#163;30,000 redundancy and reorganisation bill. The shake-up came two years after Red House was acquired by Scholastic.</p><p>

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