Small loss for Faber in 'tough' year

Small loss for Faber in 'tough' year

Faber saw a sharp drop in turnover for the year ending March 2014, and made a small operating loss for the year.

The independent publisher recorded a turnover for the year of £16.3m, down 18% from £20m in the previous year. From an operating profit of £2.3m in the year to end March 2013, the publisher this time saw an operating loss of £5,000.

Faber c.e.o. and publisher Stephen Page said the year had seen tough market conditions for the company. He told The Bookseller: "I think across the last 18 months there has been a more profound change than may at first meet the eye. The bestseller e...

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