Quercus Publishing plc

January 17, 2014 02:00 ET

Interim Trading Statement

                                                                                            17 January 2014

                                          Quercus Publishing Plc
                                       ("Quercus" or the "Company")
                                         Interim Trading Statement

Quercus  Publishing  plc,  today announces its interim trading statement for the financial  year  ended  31
December, 2013.

As  indicated in the Interim Results published on 26 September, 2013, the UK book trade has continued to be
challenging.  The  bulk of our profits are usually generated in the final quarter of  the  year.   However,
sales in the final quarter were lower than expected, due in part to continuing issues within the book trade
which  led  retailers  to  adopt very conservative ordering policies and a lower than  expected  upturn  in
digital  sales  over  the Christmas period to the end of the year. As a result, the  Directors  expect  the
Company to make a significant trading loss for the financial year.

The  Company  is in constructive discussions, which are on-going, with its bankers, Barclays regarding  the
terms of its facility. A further announcement in this regard will be made in due course.

Last  month we announced the acquisition of the global English language publishing rights to a new book  in
the  Stieg  Larsson  Millennium series, which is scheduled to be published in 2015. We  regard  this  as  a
particularly  positive development which should extend the life and revenues of the Larsson  franchise  for
many years to come.

Our  newly  established US subsidiary delivered encouraging results in the final quarter by  achieving  its
budgeted  gross revenue, and our long term strategy of diversifying our income beyond the historic  success
of  the  Stieg  Larsson franchise continues to bear fruit, with non-Larsson sales last year  increasing  by
nearly a quarter over 2012.

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

Enquiries to:

Colin Adams, Chief Financial Officer and Chief Operating Officer           Tel: 020 7291 7200

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