Sales down, profits up at S&S worldwide

<p>Profits increased amid a fall in sales in Simon &amp; Schuster&#39;s global third quarter results.</p><p>Publishing revenue in the three months to 30th September was down 6% to $217.7m from $230.4m the previous year. For the nine months to 30th September, sales were down from $573.5m to $559.1m.&nbsp; Parent company CBS said bestselling third quarter titles included Rhonda Byrne&#39;s <em>The Secret</em> and Bob Woodward&#39;s <em>Obama&#39;s Wars</em>.</p><p>While S&amp;S did not strip out UK figures, for the first 36 weeks of the year Simon &amp; Schuster&#39;s UK sales were up 21% to &pound;18.7m, according to Nielsen BookScan. This is the largest sales growth of any of the top 10 publishers in 2010.</p><p>Publishing&#39;s adjusted operating income was up from $26.6m to $29.5m for the three months to end September. For the nine month period, it was up 42.3% to $46.7m. It said operating income increased due to cost containment, lower royalties paid and lower production costs.</p><p>Total sales at CBS fell from $3.35bn to $3.30bn over the three month period. Total operating income increased from $418.2m to $611.2m during the same period.</p>