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Fri, 27th May 2011 07:24
Book publisher Bloomsbury said demand for electronic readers outpaced progress among traditional books.Sales of e-books increased to £1.5m in 2010 from £0.08m in 2009 in what chief executive Nigel Newton hailed as the 'changing the face of the publishing industry.' E-sales in January to March 2011 were £1.1m."The publishing world is handling its own revolution," Newton said.The group, which achieved phenomenal success with the Harry Potter book series, said pre-tax profit for the 14 months ended 28 February 2011 slumped to £4.2m compared to £7.1m in the 12 months to 31 December 2009. Bloomsbury, which changed its year-end to 28 February said revenue rose to £103.4m from £87.2m during 2009. Newton said, "This is an exciting time for Bloomsbury: demand for digital delivery, including e-books, is increasing significantly; it will change the publishing business model creating one worldwide market.""The recent organisation change is already bringing benefits, enabling us to better exploit that worldwide market as a global publisher in print and digital. We have a strong balance sheet and an excellent management team, so are well placed to exploit future opportunities."The publisher also said it had launched Bloomsbury Australia in January, which has been immediately earnings enhancing.A final dividend of 0.28p has been recommended for the two month period 1 January to 28 February, subject to shareholder approval at the AGM.CJ
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26 Mar 2018 21:56
Reuters Health News Summary
Following is a summary of current health news briefs. Biohaven plunges as investors pit migraine data against Allergan's drug Biohaven Pharmaceutical Holding said its acute two a
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Reuters Health News Summary
Following is a summary of current health news briefs. Singapore pharma on recovery path after worst output in decades Singapore's among
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Reuters Health News Summary
Following is a summary of current health news briefs. Singapore pharma on recovery path after worst output in decades Singapore's among
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Bloomsbury Publishing Expecting Profitability To Beat Expectations
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Bloomsbury Publishing plots expansion into B2B market
(ShareCast News) - Harry Potter publisher Bloomsbury Publishing held a capital markets day for investors and analysts on Wednesday to present plans to enter the business-to-business market, while also confirming first-quarter trading remained in line with full year expectations. Bloomsbury unveiled
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19 May 2016 12:43
Bloomsbury moves towards digital B2B after strong FY
(ShareCast News) - Bloomsbury, the publisher behind the Harry Potter phenomenon, has turned in an overall strong set of full-year results and launched a 2020 strategy to move into digital B2B publishing. It booked a full-year pretax profit of £10.36m, from a year-earlier profit of £9.60m, with reven
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