Warehouse, Currency Issues Trip Penguin Profits In First Half 2004

August 2004
Book Publishing Report;8/2/2004, Vol. 29 Issue 29, p3
Trade Publication
Publishing company Penguin Group has reported its revenues for the first half 2004, which has dropped 7% from $671 million to $621 million. In April 2004, the company had some problems with the software that was supposed to manage the physical flow of books around a new warehouse in Great Britain. The new design was supposed to be automated and positions were made redundant as a result of the change. But when the software didn't work as the company hoped, Penguin had to shift back into the manual mode of warehousing and shipping books.


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