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Finals from Quarto Group made good reading
Recent results from illustrated book publisher Quarto Group (49p) were interesting and suggested that the company is currently undervalued. An Open Offer which raised £13.9m in gross proceeds and approximately £12.8m net of expenses through the issue of 20,444,550 new shares at 68p each earlier this year has bolstered the balance sheet, reducing net debt. With the benefit of hindsight this was a timely move and the opportunity to buy in now at a significantly lower level looks tempting.
The company creates a range of books and intellectual property products in various formats for adults, children and the family. Quarto Group comprises a diverse portfolio of imprints and businesses that are creatively independent and have specific expertise in developing long-lasting content across niche areas of interest. Products are sold and distributed in over 50 countries and 40 languages, through a variety of sales channels, partnerships and routes to market. Approximately 330 employees are located in the US and the UK. The group was founded in London in 1976 and is domiciled in the US but listed on the London Stock Exchange…
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