16 August 2012 – interim results

The book publishing group Quarto has produced interim results ahead of expectations for the first half of the year with adjusted pre-tax profits of $1.38m (2011: $1.44m) being generated in the six months to 30 June despite the difficult trading conditions.  Adjusted diluted earnings per share were 4.2c (2011: 4.4c) and net debt fell slightly.  However, there are better investment opportunities elsewhere in the market and so we would SELL.