The Quarto Group has “started to deliver” after its reorganisation in 2013, c.e.o. Marcus Leaver said, as the company revealed profits grew in 2014.
In 2013 the company rebranded Aurum Publishing Group as Quarto Publishing Group UK, while the Quayside Publishing Group became Quarto Publishing Group USA. It also merged Lifetime and Premier to form Books & Gifts direct.
“The business has been simplified and focused and is beginning to deliver on its strategic priorities,” said Leaver. “The second half of the year was strong and this has given us momentum into 2015.”
For the year ending 31st December 2014, revenues from underlying operations grew 2% to $172.6m (£116.9m) compared to 2013 and profit was up 10% to $15.4m (£10.4m).
Most divisions saw growth during the year and revenues from Quarto Publishing Group UK increased 3.3% to $21.5m (£14.6m). In children’s, which includes the imprints Frances Lincoln and Wide Eyed Editions, revenues grew 17% to $23m (£15.6m). Children’s publishing now amounts to more than 13% of the group total.
However, revenues from Quarto Publishing USA fell slightly – less than 1% - to $64.1m (£43.4m), which the company attributed to the closure of a wholesaler into two accounts.
In 2015 Quarto said it will “expand our reach in territory and format”. It will invest in intellectual property and “develop the business by acquisition”.