London-based Quarto Group said revenues for the third quarter ended September 30 rose 5%, to £20.8 million ($32.8 million), with pre-tax profits jumping 40% to £950,000 ($1.5 million). Sales in the most recent quarter continued the trend of the first half of the year, with revenues for the first nine months of 2002 also increasing 5%, to £52.6 million. Pre-tax earnings increased 49%, to £2.5 million.
Sales in Quarto's publishing division rose by nearly 7% in the nine-month period, to £25.2 million, with solid growth reported in the U.K., U.S. and Australian markets. In the international co-edition division, sales increased 4%, to £27.5 million. Company chairman Laurence Orbach said that some softening in the retail market and possible delays of product into the U.S. due to the West Coast dock lockout should not prevent Quarto from hitting its financial targets for the year.
