Quarto Share Discussion Threads

[jeff h] 01/5/2007 08:48

The debts in dollars drectly but fixed at 4.4%...so from July they'll
be paying at least 2% more on the equivalent of £30m...so that's more
than an extra £1/2m annual interest to pay.

[battlebus] 01/5/2007 08:06

Been adding again since last results and i'm now hoping to hear important news of aquistions at the agm.

[drectly] 01/5/2007 00:41

still do not hold any, although looks like small sells being taken by someone the last few weeks, a lot of price movement on small volume.
In a selfish way I hope you are right Jeff
If the debt is in sterling that is an issue, if it is in dollars, that is plus and minus and I guess US rates will come down soon
We will get a better indication on Weds
regards drectly

[jeff h] 01/5/2007 00:15

I've sold out, maybe a good decision maybe not but too many recent negatives

- change to a smaller firm of auditors
- changes in accounting policy (related to the above?)
- US$ depreciating against £ sterling
- end of fixed rate loan looming

Looks to me as though 2006 included one off £459k of profit from the release
of the hedging reserve (Note 26 - 'hedging reserve recycled through the
income statement') though I maybe wrong on that.

AGM Wed so no doubt get a trading update.

[battlebus] 13/4/2007 21:55

Steady rise since results, maybe just maybe we've managed to strike a deal! Anyway up we go.

[drectly] 08/3/2007 08:40

agree, I thought with a quick glance at the headlines they looked OK, needs a bit of time to check through adjustments.
I am not familiar with this sector so not sure what typical EBITDA is for t/o but it does look exceptionally low, which someone with the ability to buy a lot more than me might notice.

regards drectly

FINANCIAL HIGHLIGHTS

Year to December 31 2006 2005 Increase

Revenue (#m) 93.6 95.0 -1%
Adjusted EBITDA (#m) 18.0 17.5 +3%
Operating profit: adjusted (#m) 9.6 8.9 +7%
reported (#m) 6.9 6.8 +2%
Pre-tax profit: adjusted (#m) 7.3 6.7 +9%
reported (#m) 4.64 4.57 +2%
Diluted earnings per share: adjusted (p) 22.5 21.3 +6%
reported (p) 13.9 13.5 +3%
Dividends per share (p) 6.75 6.5 +4%
Net debt (#m) 31.0 35.1 -12%

[battlebus] 08/3/2007 08:29

Fair results today which should steady price though short term growth is over.

[jeff h] 09/1/2007 19:30

From This is Money market report:-

"Publisher Quarto shed 10p at 168½p on news that AMS, one of its US clients, has filed for Chapter 11 bankruptcy. But broker Collins Stewart said that AMS represented less than 3% of group sales and the impact on the group should not be that significant."

[drectly] 09/1/2007 09:06

Still like these medium long term, but fuly agree, sit on hands time regards this one at the moment. This sort of drop normally hapens just after I buy.
regards drectly

[jlabrey] 08/1/2007 19:03

Not surprising given the books market is going through an extremely difficult patch - in the UK Bloomsbury and HMV (owners of Waterstones) have announced profit warnings recently. The weakness of the US consumer market and crashing $ make this one an even riskier play. I was going to follow John Lee into Quarto late last year but now will wait to see if it is possible to get in at a lower price. The heavy gearing and concentration of shares in the hands of the CEO make it an unlikely bid target in my opinion - and a single digit PER is therefore warranted.

[battlebus] 08/1/2007 17:34

yes taking total profits

[mctmct] 08/1/2007 11:42

AMS Chapter 13 blows rather a hole in the results :-(

The drop today looks fairly mild.

mct

[battlebus] 18/12/2006 08:39

Nice deal annouced this am surely a major co purchase now in the offing

[drectly] 17/12/2006 10:04

jim
many thanks, looks a reasonable site, should be in their business.
I am a great fan of JL in the FT, I use him as a source for reducing shares (companies) down to a reasonable number to look at. He has been very keen on this, I am watching, trying to learn a bit more before rather than after purchase. Lack of volume ust make buying and selling a bit of an issue.
regards drectly

[drectly] 16/12/2006 19:33

Does anyone have a link or address for the Quatro home page, I did not find through Google, which seems strange
thanks drectly

[battlebus] 10/12/2006 20:19

In the last statement L.O. said he hoped to tie up a new deal or two by christmas would this account for one do you think.Was hoping that he would buy an existing co with a solid track record of profits etc anyhow ta for the info.

[jeff h] 10/12/2006 20:06

I assume Quarto (it is they that the article says are the backers) are
putting some money up - perhaps taking a x% stake in JR Books in return
for £ym

[battlebus] 10/12/2006 19:39

What can he mean when he says he has won the backing of L.O.

[jeff h] 10/12/2006 15:24

A rare snippet of information:-

Those who complain that being published is all about "who you know" could point to the example of Jeremy Robson. In 33 years at the helm of Robson Books, the irrepressible Robson has made a habit of publishing his famous friends: Spike Milligan, Maureen Lipman, Joan Collins, Michael Winner, Humphrey Lyttelton and even Bill Oddie. When Robson quit his imprint's parent group, Anova, earlier this year, it was unlikely he'd slip quietly into retirement. Instead he's setting up a new independent house, JRBooks. He's won the backing of the illustrated publishing giant Quarto - whose chairman, Laurence Orbach, is, somewhat inevitably, his old school friend.

[jeff h] 21/10/2006 15:48

The trading update yesterday means they should make at least £7.0m pre
tax in 2006 for EPS of 21p+.

As usual little interest though I took the opportunity to add 5k before
JL in the FT mentions it.

[0rb1t] 18/8/2006 14:34

Not a lot has been written about this company. The directors own a good percentage of the shares and are consequentially cautious about taking on too much risk. They stated at the interims that they should meet forecasts which are £4.18m after tax. That makes a foreward PE of 8.5.

This year they have eliminated the losses at the magazine business and are hopeful of making another substantial acquisition.

This risks are that they are quite heavily geared and that 50% of the turnover is in USA ($ risk). They have hedged against interest rate rises. I think the loans are in $s so a fall in the dollar could be offset by that their debt would be reduced.

[jeff h] 18/8/2006 11:52

Yes and a John Lee stock - he mentioned it in his FT column recently as he
is a holder and is a fan....surprisingly never been much interest in this share though.

[0rb1t] 18/8/2006 11:46

Buy recommendation in IC today.

[tomoslewis] 23/2/2006 18:05

Results due out tomorrow, topped up in anticipation