19 March 2020
Bloomsbury Publishing Plc (LSE: BMY), the leading independent publisher, today gives a pre-close trading update for the 12 months to 29 February 2020.
Bloomsbury is pleased to announce that its performance for the year ended 29 February 2020 is in line with the Board's expectations.
Bloomsbury's financial position is strong with net cash of £31 million at 29 February 2020. This excellent cash position is after paying £1.2 million for the acquisition of Oberon Books Ltd in December 2019.
The Non-Consumer Academic and Professional division had a strong performance, with both revenue and margin growth. Bloomsbury Digital Resources has grown to have over 1,100 academic institutions buying direct. Major products this year included the National Theatre Video Collection on Drama Online, and Bloomsbury Professional's Tax Online service with the ICAEW.
The Consumer division delivered many bestsellers in the second half including Harry Potter and the Goblet of Fire Illustrated Edition by J.K. Rowling with Jim Kay, Sarah J. Maas' Crescent City: House of Earth & Blood (which since the period end has gone to Number 1 on the New York Times Bestseller list), Tom Kerridge's Lose Weight & Get Fit, Dishoom: From Bombay with Love, Three Women by Lisa Taddeo and the worldwide bestseller The Anarchy by William Dalrymple.
It is unclear how coronavirus will affect our numbers as it is early in the new financial year which ends on 28 February 2021. There is disruption to bookshops, online retailers and academic institutions, whilst on the other hand, reading books, including print books, is likely to be popular at home. Ebook and audio book downloads will be available for people to order from home.
We will provide an update with our final results on 20 May 2020.
For further information, please contact:
|Bloomsbury Publishing Plc||[email protected]|
|Nigel Newton, Chief Executive
Penny Scott-Bayfield, Group Finance Director
|Hudson Sandler||+44 (0) 20 7796 4133|
|Dan de Belder
Notes to Editors
About Bloomsbury Publishing PlcBloomsbury is a leading independent publisher of fiction, non-fiction, children's, specialist, academic and professional titles. The company's mission is to be an entrepreneurial, independent publisher of works of excellence and originality to a worldwide audience. It is one of the few publishers with a portfolio that includes both general and academic publishing. Bloomsbury's ambitious growth story has seen the Group become a significant global publisher with offices in the UK, US, Australia and India.
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