27 October 2016
Bloomsbury Publishing Plc announces results for the six months ended 31 August 2016.
To view a full version of the results in
The Group is trading in line with management’s expectations. Traditionally, sales of trade titles peak for Christmas and sales of academic titles in the autumn at the beginning of the academic year. We therefore expect our sales to be significantly second-half weighted, as in past years.
Note: Pro forma historic financial results
In May 2016, Bloomsbury announced a reorganisation from four to two divisions, Consumer and Non-Consumer, to simplify our business and increase our customer focus. Historic results for the years ending 29 February 2016 and 28 February 2015 have been restated in line with this new structure and are available at www.Bloomsbury-ir.co.uk.
Note: *Adjusted results are calculated before deducting highlighted items. Highlighted items mainly comprise amortisation of acquired intangible assets and costs relating to acquisitions and major restructuring.
Commenting on the results, Nigel Newton, Chief Executive of Bloomsbury Publishing, said:
"This has been a strong period for Bloomsbury. We are making good progress towards our strategic objectives with an increase in revenues of 19% and growth in each of our territories. The Children’s Trade division delivered another outstanding performance, increasing revenues by 63%.
The Group is trading in line with management’s expectations. We have a strong second half list including the Illustrated Editionof Harry Potter and the Chamber of Secrets, Fantastic Beasts and Where to Find Them - Newt Scamander: A Movie Scrapbook, Empire of Storms by Sarah J. Maas, the Throne of Glass Colouring Book, Mad Enchantment by Ross King, Tom Kerridge’s Dopamine Diet, Commonwealth by Ann Patchett, Bloomsbury Professional’s Tax Looseleafs and Last Testament: In His Own Words by Pope Benedict XVI. October is the peak period for academic book sales and Christmas for the sales of consumer books. We therefore expect our results to continue to be significantly second-half weighted, as in past years.
In the coming months we expect to deliver the platform and associated infrastructure to accelerate digital revenues in line with Bloomsbury’s 2020 plan, and specifically to see the launch of the Arcadian Library Online and Bloomsbury Popular Music, the latest two resources in our growing range of digital products.”
For further information, please contact:
|Daniel de Belder/Charles Stewart, Bell Pottinger||+44 (0) 20 3772 2500|
|Nigel Newton, Chief Executive, Bloomsbury Publishing Plc||+44 (0) 20 7631 5630|
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