Tuesday, August 16, 2011

Quarto Buys Frances Lincoln


Book2Book 15 August, 2011

Quarto has announced its Interim results for the 6 months ended June 30th and has revealed the significant acquisition of Frances Lincoln Ltd, for a cash consideration of £4.5 million. For the year ended March 31, 2011, Frances Lincoln reported an audited profit before tax of £619,000, net assets of £3.8 million and gross assets of £5.9 million.

 
This important acquisition more than doubles the size of Quarto's UK-based book publishing revenues. Frances Lincoln also has a distribution business, handling sales and fulfillment for a number of third-party publishers. Quarto anticipate that this will be linked with the group's existing sales and distribution activities, and will handle titles from their US imprints in the UK and continental Europe.
Quarto's overall results show revenue in the Publishing division up 3% to $51.6m (2010: $50.2m) and Co-edition division revenue up 12% to $21.0m (2010: $18.7m). Quarto have declared an interim dividend of 3.35p.

Quarto

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