Quarto Group Inc Trading update (2664D)

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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.                          [phone] 
  Marcus Leaver, CEO 
  Brian Porritt, Interim CFO 
  Dorothée de Montgolfier, Group Director 
   of Communications 
 
  Instinctif Partners                             [phone] 
  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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January 30, 2018 02:00 ET (07:00 GMT)