Quarto Group, Inc. Announces Group Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2016; Provides Group Earnings Guidance for the Full Year 2016
November 03, 2016 at 12:30 pm IST
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Quarto Group, Inc. announced group interim management statement for the third quarter and nine months ended September 30, 2016. The company reported group revenue for the nine months ended 30 September 2016 of $130.4 million, was up 5.9% against $123.1 million a year ago. Underlying revenue for the nine months ended 30 September 2016 was up 1.2%. Revenue for the group's core publishing businesses for the nine months ended 30 September 2016 of $105.3 million was up on the prior year by 11.1% against $94.8 million a year ago. Underlying core publishing revenue was up by 4.9%.
The company reported revenue for the quarter ended 30 September 2016 of $57.0 million was up 3.0% against $55.4 million. Underlying revenue for the quarter was down 6.9%. Revenue for the quarter for the group's core publishing businesses was up on the prior year by 4.6% at $46.9 million against $44.9 million a year ago. Underlying core publishing revenue was down by 7.6%, reflecting the surge in sales of adult coloring books last year. The group's net debt on 30 September 2016 was $75.0 million, down 6.7% over the year against $80.0 million as of 30 September 2015.
On the basis of current levels of trading and order book visibility, the group remains confident that it will meet management expectations for the full year and deliver both debt reduction and earnings growth.
The Quarto Group, Inc. is a United Kingdom-based illustrated book publisher. The Company creates a variety of books and intellectual property products. The Companyâs products are available in many formats for adults, children and the whole family. The Company encompasses a diverse portfolio of imprints and businesses, which develops long-lasting content across specific niches of interest. The Company sells and distributes its products globally in over 50 countries and 40 languages, through a variety of sales channels, partnerships and routes to market. The Company has two segments: US Publishing and UK Publishing. Its publishing is focused on its categories, such as arts, crafts and hobbies; cooking; fiction; gardening, house and home; health and spirituality; history, biography and culture; kids and teens; math, science and nature; stationery and gifts; transportation, and travel and recreation. Its imprints include becker&mayer! books, becker&mayer! kids, Chartwell Books and others.
Quarto Group, Inc. Announces Group Interim Management Statement for the Third Quarter and Nine Months Ended September 30, 2016; Provides Group Earnings Guidance for the Full Year 2016