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Harlequin Mills and Boon's parent company Torstar has reported "very solid" results with a 3.7% rise in revenue for its book publishing arm in the third quarter (to 30th September).
In the third quarter of 2009 the company's book publishing revenue was $122.5m, up 3.7% from $118.1m in the third quarter of 2008. Operating profit was $22.9m in the third quarter of 2009, up $4.2m from $18.7m in the third quarter of 2008.
Year to date, book publishing operating profit was $63.1m, up from $53.2m in the first nine months of 2008. The increases included gains from the weaker Canadian dollar to the US dollar compared to a year ago. The company did not strip out results from its UK arm.
The Torstar statement said: "Harlequin has had a very solid first nine months of the year and is expected to report full year growth excluding the impact of foreign exchange. Results in the fourth quarter are expected to be stable."
It continued: "Harlequin continues to face risk from the global and, in particular, the U.S. economic situation including potential disruptions to the U.S. retail distribution system and potential further reductions in consumer spending."