Quarto sales dip ahead of vote

Quarto, the independent publisher at the centre of a battle for boardroom power, yesterday said trading had been subdued in the last three months. Sales dipped to $127.2m (£78.8m), while profit fell from $6m to $5.5m. Rebel investor Harwood Capital, which wants to oust chief executive Laurence Orbach, said that Quarto breached rules by sending a late circular about the upcoming vote.