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30th July 2009
Book wholesaler trading "ahead of forecast"
International book wholesaler Bertrams Books is trading ahead of forecast, according to sales figures released earlier this month.
Bertrams was purchased by Smiths News in March of this year for £8.6 million and has in the 19 weeks since contributed to an overall year-on-year profit increase of 7.1 per cent.
Smiths News said: "Bertrams has made good progress in its first few months of the group's ownership. Normal trading relationships with all major publishers have been re-established and stock levels restored to optimum levels."
The group added that strong academic and internet sales had been a major factor in the wholesaler trading ahead of forecast.
It also insisted that the acquisition and subsequent success of the company had allowed the group's net debt position to move "marginally".
Bertrams Books went up for sale earlier this year as a result of the collapse of its previous owner Woolworths.
(c) 2009
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