Quarto Has Flat 2001
by Amanda-Jane Doran -- Publishers Weekly, 2/25/2002
London-based international co-edition publisher the Quarto Group reported revenues of £73.6 million ($105 million) for 2001, flat with sales in 2000. Operating profit increased 1.8%, to £6.2 million, though net profits fell 10.7%, to £2.5 million. The popularity of mind, body and spirit titles boosted sales in the U.K. and the U.S. The U.S. remained Quarto's largest market by far, with sales of £41.9 million (up from £39.8 million in 2000) accounting for 60% of total revenues. Sales in the U.S. were led by improvements in its Book Sales group and art publishing operations. Rockport Rotovision, which introduced the Fair Winds New Age imprint last year, had a disappointing performance, with backlist sales particularly weak. Sales fell 11.8% in Europe, to £8.2 million, and the company took a £1.2-million hit when the German art book publisher Konemann went bankrupt in December.
Despite the problems of 2001, Quarto chairman Laurence Orbach said the company "weathered the storms well," and he is optimistic about prospects for 2002. His optimism was underscored by the purchase of Marshall Editions for £1.27 million last month. Marshall will be run as a separate entity within the Quarto Group. Orbach said the Marshall purchase signals the company's conviction to "kick-start the growth of Quarto with some judicious acquisitions."
