Quarto Group Inc (LON:QRT), 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.”
Gresham House Strategic PLC (LON:GHS) has a 4.4% ownership of Quarto Group Inc, correct as of 31 December 2017 month end NAV announcement, released 2 January 2017.
