Quarto Group Inc Trading update (2664D)
January 30 2018 - 2:00AM
UK Regulatory
TIDMQRT
RNS Number : 2664D
Quarto Group Inc
30 January 2018
30 January 2018
The Quarto Group, Inc.
Trading update
The Quarto Group,Inc. (LSE: QRT,"Quarto" or "the Group"), the
leading global illustrated book publisher, has published a trading
update for the year ending 31 December 2017.
The Group expects to report revenue and profits in line with its
last trading update on 9 November 2017, following a strong trading
performance in H2 and over the holiday period.
While net debt reduced over the second half from $75.8m to $64m,
year on year net debt increased by $2.1m, largely due to the
previously disclosed poor H1 performance.
The Group expects to report its audited preliminary results on
Thursday, 29 March 2018.
Marcus E. Leaver, Chief Executive, commented:
"While 2017 was, overall, a challenging, transitional year, we
are now a pure-play intellectual property business. We are
particularly pleased with our strong trading performance in the
second half, including the holiday period, with our Children's
business once again showing growth.
"We have moved into 2018 with clear objectives about realigning
our portfolio with the broader market and consumer trends and
making the financial and operational improvements required to
fulfil our ambitions, including strengthening our balance sheet as
a platform for growth."
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For further information, please contact:
The Quarto Group, Inc. +44 20 7700 9002
Marcus Leaver, CEO
Brian Porritt, Interim CFO
Dorothée de Montgolfier, Group Director
of Communications
Instinctif Partners +44 20 7457 2077
Adrian Duffield/Chantal Woolcock
About The Quarto Group
The Quarto Group (LSE: QRT) is the leading global illustrated
book publishing group. Our mission is to make and sell great books
and related products that entertain, educate and enrich the lives
of adults and children around the world.
Quarto creates and owns proprietary content from a diverse
portfolio of imprints that are creatively independent and expert in
developing long-lasting content across specific niches of
interest.
Quarto sells books across 50 countries and in 39 languages
through a variety of traditional and non-traditional channels,
while constantly looking for new ways to create and deliver content
that people need.
Quarto employs over 400 talented people in the US, UK and Hong
Kong. The group was founded in London in 1976.
It is domiciled in the US and listed on the London Stock
Exchange.
For more information, visit quarto.com or follow us on Twitter
at @TheQuartoGroup.
This information is provided by RNS
The company news service from the London Stock Exchange
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