Revenues rose by 8% to $73.3m and the loss before tax amounted to $1.1m. Net debt fell by 10% to $75.2m. Quarto has acquired becker&mayer, a US publisher of adult non-fiction and children’s books for $9.8m, increasing its children’s publishing revenues by c.30%. US revenues will be c.45% of the group total. We have increased our FY2016E PBT forecast by 3% to $15.4m and raised FY2017E & 2018E by c. 8%, given the impact of the acquisition. We reiterate our Buy recommendation
09 Aug 2016
becker&meyer acquisition. Interims in line
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becker&meyer acquisition. Interims in line
- Published:
09 Aug 2016 -
Author:
Peter Ashworth -
Pages:
8
Revenues rose by 8% to $73.3m and the loss before tax amounted to $1.1m. Net debt fell by 10% to $75.2m. Quarto has acquired becker&mayer, a US publisher of adult non-fiction and children’s books for $9.8m, increasing its children’s publishing revenues by c.30%. US revenues will be c.45% of the group total. We have increased our FY2016E PBT forecast by 3% to $15.4m and raised FY2017E & 2018E by c. 8%, given the impact of the acquisition. We reiterate our Buy recommendation