Press releases & announcements

27th August 2009

Interim Results for the six months to 30 June 2009

Highlights:

• Profit before investment income and amortisation of intangible assets £1.2m (2008, £3.5m)
• Investment income £0.8m (2008, £1.9m)
• Basic earnings per share 1.70 pence (2008, 4.97 pence)
• Interim dividend up 4.0% to 0.78p per share (2008, 0.75p)
• Strong publishing lists for second half and beyond
• Cash balance of £48.4m (31 December 2008, £51.9m)
• Important acquisitions made in July in academic and professional publishing including Tottel Publishing, a leading law and tax publisher
• Well positioned for further organic and acquisition-related growth

Commenting on the results and prospects for Bloomsbury, Nigel Newton, Chief Executive, said:

'Bloomsbury continues to perform well in difficult markets with the first half of 2009 laying good foundations for the full year. Despite the high comparative figure due to the timing of last year's release of Harry Potter and the Deathly Hallows in paperback, we have enjoyed strong underlying growth.

The balance of the Group's business has shifted as we maintain our expansion in academic and specialist publishing which is less susceptible to the vicissitudes of the consumer market and therefore less risky for the Group. Since the period end, we have completed the acquisitions of Tottel Publishing and the Hodder Higher Education lists in Media and Communications, History and English Literature.

The market risks highlighted at the year-end remain but we have entered the second half of the year with a strong Autumn list. We will also see the financial benefits from our recent acquisitions.'

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