Christmas Stock picks: Vp 22/12/2011
Benefits of past investment will benefit Vp, suggests Les Copeland
Mark Smith, Australian chief executive officer of PLUS-quoted Quercus Publishing, is crowing over two recent international book rights deals, as he prepares to announce annual profits, ahead but below earlier hopes. The company, chaired by entrepreneurial publishing veteran Anthony Cheetham, has sold its recently acquired US rights to the ‘Journal of Hélène Berr’, a Parisian Sorbonne student sent to her death in Belsen concentration camp in 1945, in a deal believed by market watchers to be worth £250,000.
Quercus, whose sales have been growing fast from 2006’s £3.5 million, has also sold the rights to prize-winning philosophical thriller Genesis by Bernard Beckett in six countries, including the USA. Smith says the company bought the world rights for £50,000 and sold them for more than £200,000.
He speaks of another tranche of deals on the way and sounds cheerful about the rest of 2008. Quercus, which raised £2.8 million on PLUS in 2006, is considering tapping the market again later this year and will then decide whether to accompany this with a move to AIM.
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