24 October 2017
The Group saw strong growth in the first half and is trading in line with the Board's expectations for the full year. Traditionally, sales of trade titles peak for Christmas and sales of academic titles at the beginning of the academic year in the autumn. We therefore expect our sales to be second-half weighted, as in past years.
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Note: *Adjusted results are calculated before deducting highlighted items. Highlighted items comprise amortisation of acquired intangible assets and, in the prior year, costs relating to acquisitions and major restructuring.
Commenting on the results, Nigel Newton, Chief Executive of Bloomsbury Publishing, said:
‘It has been a very strong six months for Bloomsbury. Revenues are up 15%, with good growth in each of our territories. The Children's Trade division delivered another outstanding performance, increasing revenues by 33%.
The Group is trading in line with the Board's expectations for the full year. We have a strong second half list including the Illustrated Edition of Harry Potter and the Prisoner of Azkaban, the Illustrated Edition of Fantastic Beasts and Where to Find Them and two major books to accompany the British Library's Harry Potter exhibition, which was launched last Thursday to huge public acclaim. Our cookery list for the second half includes A Baker's Life by Paul Hollywood, Lose Weight for Good by Tom Kerridge and River Cottage Much More Veg by Hugh Fearnley-Whittingstall. 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 second-half weighted, as in past years.
We have successfully launched two new major digital resources this period and are on track to launch a further two new resources this year, one more than originally planned in the Bloomsbury 2020 growth plan.'
For further information please contact:
|Nigel Newton, Chief Executive, Bloomsbury Publishing Plc||+44 (0) 20 7631 5630|
|Wendy Pallot, Group Finance Director, Bloomsbury Publishing Plc||+44 (0) 20 7631 5630|
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