Publishing News carries a brief paragraph about a good year at the small UK publisher Allison and Busby. For the year ending 31 December 2004, turnover was up from £819,382 to £1,103,180. Operating profit increased from £93,517 to £169,856. So who says publishers can't make money?
Oh but just a minute. What's this last sentence at the end? A deficit of £1,142,883 was carried forward.
Oh dear. That rather spoils it.