Bloomsbury Share Price (BMY)

IC Update

https://www.investorschronicle.co.uk/ideas/2024/02/15/bloomsbury-s-eye-catching-run-is-far-from-over/

620p new target price.

GLA

A straight line drawn from price bottom of 13/3/23, through price peak of 20/6/23, coincides with the current sp, of 550. It remains to be seen, whether BMY, will close above 550. The technicals for BMY, are very positive because, any chart view 5 year, 2 year, 1 year, 6 months , 3 months, is bullish because the sp, invariably leads up from left to right.

Bloomsbury have just continued outperforming since the last TU and it's likely to continue, because SJM is just one of many success stories here. HP will soon have a new lease of life as a VERY long running TV adaptation for a new generation. Katharine Rundell's new series has huge potential too. There might well be a further lift in May if they announce a significant acquisition. The digital academic division is now balancing the outstanding fiction operation beautifully and building a really solid and growing business.

Initially forecasted to generate revenue of £291.4 million and a profit of £37.2 million, the updated figures now stand at £331 million in revenue and £47.5 million in profit, reflecting an improved margin from 12.8% to 14.3%. This surge in profitability is attributed to the strong sales of backlist (previously published) titles, which incur lower costs than new releases, thereby enhancing operational efficiency.

Lovely update.

GLA

Https://www.proactiveinvestors.co.uk/companies/news/1041042/bloomsbury-publishing-ir-head-credits-sarah-j-maas-novel-in-part-for-stronger-financial-performance-1041042.html