Illustrated books publisher The Quarto Group Inc on Friday said its pretax profit more than doubled in 2014 despite lower revenue as the group boosted its margins through cost-cutting and an exceptional charge taken last year was not repeated.
Quarto said its pretax profit for 2014 was USD12.2 million, compared to USD5.8 million last year when the company was hit by a USD3.4 million exceptional restructuring charge. The profit was also pushed higher by lower administrative expenses and lower cost of sales, which slightly outpaced a fall in revenue.
