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Atlantic Books made a loss of £1.8m on turnover of £6.9m in 2010, the company has confirmed. But chief executive Toby Mundy said the publisher was likely to grow 15% on 2010's figures this year and had also reduced its costs by 15%.
Mundy said the 2010 losses came about after Atlantic increased its overheads to push ambitious growth plans, including with the launch of its Corvus imprint, while the economy flatlined. The company's 2010 turnover was flat year-on-year, at £23,773 below its 2009 total.
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Anthony Cheetham has left Atlantic Books and resigned as a director of the company. It is understood that Cheetham left the publisher yesterday (30th June) with a memo circulated internally announcing his departure. His role has been under discussion for weeks, and rumours of the split have been circulating for some time.
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