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Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>Edison Investment Research is terminating coverage on The Quarto Group (QRT). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.</p>

Edison Investment Research is terminating coverage on The Quarto Group (QRT). Please note you should no longer rely on any previous research or estimates for this company. All forecasts should now be considered redundant.

<p>Quarto&rsquo;s year-end update indicates that the publishing operations have delivered the performance as expected, despite challenges in the UK retail market and the tailing off of the colouring book trend. 2016&rsquo;s acquisitions have done notably well and our forecasts are unchanged. A buyer has been found for Australian/New Zealand distributor, Books and Gifts Direct (BGD), which will allow greater focus on opportunities for the core publishing business. Net debt of $62.2m was ahead of end FY15 due to working capital timing and weaker trading at BGD. Quarto has an attractive yield and continues to trade at an overlarge discount to peers.</p>

Quarto&rsquo;s year-end update indicates that the publishing operations have delivered the performance as expected, despite challenges in the UK retail market and the tailing off of the colouring book trend. 2016&rsquo;s acquisitions have done notably well and our forecasts are unchanged. A buyer has been found for Australian/New Zealand distributor, Books and Gifts Direct (BGD), which will allow greater focus on opportunities for the core publishing business. Net debt of $62.2m was ahead of end FY15 due to working capital timing and weaker trading at BGD. Quarto has an attractive yield and continues to trade at an overlarge discount to peers.

United Kingdom

Quarto Group, Inc. creates and markets illustrated books on a wide range of topics in the United Kingdom.  The Company also performs other activities, including photographic processing, silk screen printing, and offers the printing of consumer magazines, informational directories, visual art books and fine art reproductions, and offers production services.

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Quarto Group (QRT LN)

Termination of coverage

Edison Investment Research is terminating coverage on The Quarto Group (QRT). Please note you should no longer rely on any previous research or...

Edison Investment Research

Publishing performance in line

Quarto’s year-end update indicates that the publishing operations have delivered the performance as expected, despite challenges in the UK retail...

Edison Investment Research

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