Q3 Interim Management Statement

RNS Number : 0447W

Quarto Group Inc

04 November 2014

 



4 November 2014

THE QUARTO GROUP, INC

Q3 INTERIM MANAGEMENT STATEMENT

The Quarto Group, Inc. (LSE:QRT), the world's leading global illustrated book publisher and distribution group is issuing its Q3 Interim Management Statement for the three months ended 30 September 2014.  

Trading update

Revenue for the quarter to 30 September 2014 was $54.5m (quarter to 30 September 2013: $54.2m).  Underlying revenues for the quarter, adjusting for the businesses sold during 2013, were up 5.3%.  Revenues for the Group's publishing businesses were up on the prior year by 4.8% at $41.6m.  Revenue from Books & Gifts Direct in the period was up by 13.5% and its turnaround plan continues.  Year to date revenue was $120.1m (2013: $126.3m).  Underlying revenues for the year to date were up 0.6%.

Financial position

The Group's net debt on 30 September 2014 was $82.3m (30 September 2013: $86.5m).

Outlook

On the basis of current levels of trading, the Group is on track to meet management expectations for the year and deliver both debt reduction and organic growth.

For further information, please contact:

Quarto                                     020 7700 9004              

Marcus Leaver, CEO                                                     

Mick Mousley, CFO                                                      

Bell Pottinger 

Elly Williamson                          020 3772 2573

Lucy Stewart

About The Quarto Group

The Quarto Group (LSE: QRT) is the leading global illustrated book publisher and distribution group and is listed on the London Stock Exchange. Quarto employs about 400 talented and creative people in four distinct but complementary businesses - Quarto International Co-Editions Group; Quarto Publishing Group USA; Quarto Publishing Group UK and Books & Gifts Direct, Australia & New Zealand.

The Group is well positioned in resilient segments of book publishing with rich reserves of Intellectual Property. Quarto is uniquely positioned for growth as the industry adapts to new means of marketing, sales and routes to market. The Group's headquarters are in London where the Company was founded in 1976.

 

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