Virgin Books makes first profit in five years

<p>Virgin Books has reported a profit for last year against a background of modest sales growth, as it continued to focus on controlling costs.</p><p>Operating profit--the company's first for five years--was &#163;317,750 in the year to end-December 2002, compared to a loss of &#163;322,637 in the previous 17-month period. Gross margin improved by six percentage points to 44%, helping to return a pretax profit of &#163;71,711.</p><p>KT Forster, managing director, said: "Last year was about maintaining controls in the business--stock control, printing costs, plant and overheads--as well as ...

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