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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
Am happy to have taken a profit from a few today but keeping rest for growth and divi. Yes this one has been good to me over the years too. I may buy more if/when it slips down at some point.
Boracic.... Never bad to take a profit, however I see this as one of the few “hold forever” shares.
Of all my shares, this has been the most consistent since I bought in 2018. It seems to be always good news and a decent divi to boot, with good divi cover as well. I should probably sell some to have a free ride but my gut says this has further to go...
This is the share that keeps on giving. Been in it for years. When I was approaching retirement, I moved much of my SIPP from what I regarded as growth shares into income ones, however couldn’t bear to part with BMY..... that appears to have been a good decision! I could see a special dividend as a possibility here, or share buybacks. Would prefer the special, as a policy of buybacks in other shares I have don’t appear to deliver the same benefit.
..trading update this morning and a beat for H2. Extremely well done Nigel and the team and thanks to Sarah JM.
Thanks to abtan on Stocko for the following:
"For anyone following the story here:
SJM was the #1 most sold book on Amazon.com last week.
It's been in the Top 20 Most Sold Books List on Amazon.com for 5 weeks now, despite only being released 2 days ago.
In total this week there are currently x8 SJM books in the list.
At the time of the last profit upgrade (mid December 2023) SJM only had x2 books in the list.
https://www.amazon.com/charts/...
If anyone knows a data source that shows Total Fiction Books Sales By Week please do share. It would be interesting to see whether the market has shrunk, or if SJM sales have indeed gone through the roof."
Another great T.U. from Bloomers - revenue and profit on track to shred market expectations again. Probably the best managed, most consistent group in their sector. Plenty in the pipeline for further growth. Fantastic to see nurtured and supported talent developing into world class, prize-winning, screen-adapted authors.
Join us on 6th December at 5:30pm for an engaging #SIGnet after-meeting, hosted by Head of SIGnet Bill Fawkner-Corbett, focused on Bloomsbury's (BMY) Interim Results. This Zoom session promises a dynamic and insightful discussion, offering a platform for members to share their perspectives, analyse the results, and connect with each other. Register here: https://www.sharesoc.org/events/signet-after-meeting-on-bloomsbury6-dec-2023/
Due tomorrow, SP rises today in anticipation of good results.
GLA
Interesting that the UT today takes the SP down to the level it might reach tomorrow as it goes ex-div.
It's HBO Max doing the Harry Potter TV adaptations, btw, due to screen starting 2025/6:
https://eu.usatoday.com/story/tech/reviewed/2023/04/19/harry-potter-tv-series-max-everything-we-know-so-far/11687365002/#:~:text=Warner%20Bros.%20Discovery%20has%20officially,that%20arrives%20on%20May%2023.
Yes, it's going to be one TV series per book, so effectively a decade long promotion for the books.
Results show outstanding performance, yet again, and a proposed 10% increase in dividend. Wow.
I know that these shares are tightly held but I have been trying to purchase a fair amount of these in recent times with no luck. Can anyone who has been following these shares give me an insight in to what is going on? Thanks
Will these guys make any money from the recent Harry Potter video game and/or upcoming Amazon TV series? (I think it was Amazon)
Tipped in Daily Mail Midas yesterday.
GLA
Looking forward to Simon Thompson's write-up.