Good Start for Quarto Group

The Quarto Group reported that sales for the first quarter ended March 31 increased 13.2%, to £14.6 million ($21.3 million), and its pretax loss was reduced to £39,000, from £520,000 in 2001. Results include revenues of approximately £400,000 from Marshall Editions, whose assets were acquired by Quarto in February.

Quarto chairman Laurence Orbach said results were "in line with expectations and support our confidence about the prospects for the year." Sales in the U.S. were "good," Orbach said, and noted that at the start of the second quarter the company's orders were stronger than at the same time last year.