Quercus Publishing plc
LSE : QUPP

January 25, 2013 02:00 ET

Interim Trading Statement

                                                                                            25 January 2013
                                                                                  GB00B1G17S00/GBP/PLUS-exn
  
                                          Quercus Publishing Plc
                                       ("Quercus" or the "Company")
                                                     
                                         Interim Trading Statement
                                                     
Quercus  Publishing Plc, the award-winning independent publisher, announces its interim  trading  statement
for the period ending 31 December 2012.

Overall  trading  in  the lead-up to the end of the year was below budget, and as a  result  the  Company's
profit  before  tax  in  the  year  to  31  December 2012 is expected  to  be  significantly  below  market
expectations.

Printed book sales started the period well, but were impacted by the non-delivery of a key Christmas  title
and  the  level  of  reorders  in the lead-up to the Christmas period which,  in  part,  were  forecast  to
compensate  for the delay of this book, was below expectations. The major title has now been scheduled  for
Christmas  2013.  E-book sales have been very encouraging, up 137% over 2011, but fell short  of  our  high
expectations for the Christmas week. Nonetheless, E-books form a significant and growing proportion of  the
Company's total revenues.

The  Company continues to trade profitably and had a positive cash balance of £1.8m at year-end. The  Board
remains confident of the current strategy of investing in new imprints, staff and high quality Intellectual
Property  to  generate future organic growth. We have an excellent publishing programme for 2013  as  shown
already by the Richard and Judy pick, Dark Winter, and Peter May's The Chess Men which reached number 4  in
the  Sunday  Times Hardback Fiction Chart as well as Africa reaching number 2 in the Sunday Times  Hardback
Non Fiction chart. 2013 will be the first year to include a full complement of books from two new imprints,
Jo Fletcher Books and Heron Books, as well as seeing the launch of our new US business in the Autumn.

The Directors of Quercus are responsible for the contents of this announcement.

Enquiries to:
  
QUERCUS PUBLISHING PLC
Colin Adams, Chief Financial Officer and Chief Operating Officer                 Tel: 020 7291 7200
  
PETERHOUSE CORPORATE FINANCE LIMITED
Mark Anwyl and Duncan Vasey                                                      Tel: 020 7220 9796
  
Media Enquiries:
ATTILA CONSULTANTS                                                               Tel: 020 7776 8825
Charles Cook                                                                     Mobile: 07710 910 563



Contact Information

  • Quercus Publishing plc