18 May 2017
Bloomsbury today announces audited results for the year ended 28 February 2017.
To view a full version of the results in
Progress on Bloomsbury 2020 digital resources growth strategy
Strong list for the year ahead
Commenting on the results, Nigel Newton, Chief Executive, said:
"This has been a very strong year for Bloomsbury with excellent revenue growth in all our territories. Our children’s publishing, in particular, had an exceptional year, delivering double digit revenue growth for the fourth year in a row.
We are very pleased also at the impact of our trade publishing, having had two simultaneous number one bestsellers in February– Tom Kerridge’s Dopamine Diet topping The Sunday Times non-fiction bestseller list and Neil Gaiman’s Norse Mythology the fiction list. This was followed by George Saunders’ extraordinary and brilliant novel, Lincoln in the Bardo, going to Number 1 on the Evening Standard bestseller list in March. The way we publish all three books reflects the significant success of our trade publishing
We have also made substantial progress in delivery of our Bloomsbury 2020 digital resource strategy. We completed a new platform to host our digital resources and launched four new major resources during the year. It was particularly encouraging to see digital resource revenues exceeding expectations, increasing 50% year-on-year.
We are well-placed for the coming year. We are launching three further major digital resources, as planned, and have an exciting publishing list from new and existing authors.”
* Highlighted items comprise amortisation of acquired intangible assets and other one-off significant non-cash charges and major one-off initiatives including legal and other professional costs relating to acquisitions and restructuring costs.
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 7494 6015|
Forward-looking statements: Statements contained in this Annual Results Announcement are based on the knowledge and information available to the Company's directors at the date it was prepared and therefore the facts stated and views expressed may change after that date. By their nature, the statements concerning the risks and uncertainties facing the Company in this Annual Results Announcement involve uncertainty since future events and circumstances can cause results and developments to differ materially from those anticipated. To the extent that this Annual Results Announcement contains any statement dealing with any time after the date of its preparation such statement is merely predictive and speculative as it relates to events and circumstances which are yet to occur. The Company undertakes no obligation to update these forward-looking statements.
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