Sales and profit up at Quarto

Sales and profit up at Quarto

<p>Co-edition publisher Quarto has reported sales and profits increasing, despite an &quot;extremely demanding&quot; market and concern&nbsp; &quot;at the dominance of a single retailer with an indifferent track record&quot;.</p><p>For the nine months to 30th September, revenue was up 9% to &pound;81.5m with operating profit up 6% to &pound;6m. Quarto described its publishing performance as &quot;uneven but generally positive&quot; and added Frankfurt Book fair was &quot;very encouraging&quot;.</p><p>Chairman and c.e.o. Laurence Orbach said: &quot;Our business remains solid and we are comfortable that we shall meet or improve upon our expectations for the full year. Conditions do remain extremely demanding. Our cash position grows stronger with net debt down comfortably and interest cover improving . . . we remain well funded and able to act when we discover exciting opportunities.&quot;</p><p>However, Orbach added: &quot;The laggard is the UK market that, at best, is dull and lackluster, despite some new titles that have received strong critical acclaim and wide publicity. Although backlist sales have held up, and we anticipate a stronger final quarter, there is no disguising the concern at the dominance of a single retailer with an indifferent track record.&quot;</p>