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Simon & Schuster UK managing director Ian Chapman has said its first quarter sales grew 7.8% on the same period last year. Chapman refused to discuss specific sales and profit figures but said the results were "way ahead of expectations in terms of budget". He said there was "substantial" year on year profit growth. He said: "The question is if we can keep this up but I think we can."
Parent company CBS announced its results, for the three months to March 31st, overnight, which revealed S&S' global sales sales fell by 6% to $151.7m (£100m) year on year. Operating income before depreciation and amortisation (Oibda) increased from $1m last year to $3.6m, excluding a $1.5m charge for restructuring.
Chapman said the publisher had greater success through mass market channels during the quarter. He said: "We have always had strong relationships with Waterstone's but I think we have upped our game with WH Smith and the supermarkets."
Chapman said a strong Christmas performance extended into the first quarter and singled out titles like Sean Smith's Cheryl Cole biography, Patrick Swayze's memoir and Brian Moore's Beware of the Dog. Fiction titles identified by Chapman as strong performers were by the likes of Philippa Gregory, Adriana Trigiani, Lynda La Plante and Tom Rob Smith. In its children's division, Chapman said Waterstone's Children's Book Prize winner The Great Hamster Massacre, The Thirteen Curses, and Dark Visions were strong sellers.
Chapman added the publisher had renewed its contract to handle publishing of Weightwatchers titles.