The Quarto Group, Inc. (LSE: QRT), the leading global illustrated book publisher and distribution group, announces its unaudited results for the year ended 31 December 2016.
|Results ($m)||2016||2015 Restated3|
|Adjusted Publishing Operating Profit*||21.7||18.5||+17%|
|Adjusted1 Operating Profit* (excluding BGD)||18.6||15.6||+19%|
|Exceptional impairment charge relating to BGD||(14.2)||-|
|(Loss)/Profit After Tax*||(5.3)||8.5|
|Adjusted1 Earnings Per Share (excluding BGD)||54.7c||46.0c||+19%|
|Basic (Loss)/Earnings Per Share||(28.5)c||41.3c|
|Total dividend for the year||15.0c||14.5c||+3%|
* Includes the contribution from acquired businesses in 2015 and 2016 and a reduced amortisation charge in 2016 arising from the review of useful lives of our titles, providing consistency across all imprints in the portfolio.
(See notes 1 and 11 to the accompanying condensed financial statements.)
Commenting on the results, Chief Executive, Marcus Leaver said:
“We celebrated our fortieth anniversary with our largest publishing profits ever. We exploited the size, scale and reach we have built in the last five years and enhanced our business with two strategic acquisitions that are already contributing positively to the Group.
Books & Gifts Direct has disappointed for a number of years, including 2016. The disposal of our non-publishing businesses, almost complete, will allow us to focus entirely on our publishing portfolio.
Whilst we expect the market background to remain difficult in 2017, we will be helped by our increased focus and expect to show further progress in the business and in reducing our debt. Quarto has a unique opportunity in a fragmented industry to become the dominant publisher of illustrated books worldwide.”
For further information please contact:
Marcus Leaver, CEO / Michael Connole, CFO
Dorothée de Montgolfier, Group Director of Communications
|020 7700 9002|
Elly Williamson / Lucy Stewart
|020 3772 2491|
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 five distinct but complementary businesses - Quarto International Co-editions Group; Quarto Publishing Group USA; Quarto Publishing Group UK, Quarto Hong Kong and Books & Gifts Direct, Australia & NZ.
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.