The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBloomsbury Share News (BMY)

Share Price Information for Bloomsbury (BMY)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 570.00
Bid: 566.00
Ask: 572.00
Change: -6.00 (-1.04%)
Spread: 6.00 (1.06%)
Open: 582.00
High: 582.00
Low: 566.00
Prev. Close: 576.00
BMY Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Bloomsbury reports record-breaking first-half earnings

Thu, 26th Oct 2023 08:12

(Sharecast News) - Bloomsbury Publishing reported record-breaking earnings in its interim results on Thursday, marking the fourth consecutive half-year of double-digit growth in both revenue and profit.

The London-listed independent publisher said revenue was up 11% year-on-year in the six months ended 31 August, reaching £136.7m, while profit before tax advanced 8% to £14m.

Diluted earnings per share jumped 11% to 13.66p, while net cash declined 6% to end the period at £39.1m.

The board declared a 162% surge in the interim dividend to 3.7p per share.

Within the consumer division, Bloomsbury recorded robust revenue growth of 17%, reaching £89.4m, while profits before tax and highlighted items increased 26% to £11.2m.

The firm reported 8% growth in Adult Trade revenue, amounting to £27.6m, with a profit before tax and highlighted items of £0.1m.

Children's Trade revenue meanwhile saw substantial growth of 22% to £61.7m, accompanied by a 29% increase in profit before tax and highlighted items to £11.1m.

Bloomsbury celebrated remarkable sales growth of titles by Sarah J. Maas, surging 79%, while the enduring popularity of Harry Potter remained evident, with robust sales even 26 years after its initial publication.

Within the non-consumer division, the company recorded modest revenue growth of 2% to £47.3m, with profit before tax and highlighted items falling to £5.9m from £7.1m a year earlier.

The company's Academic and Professional division generated revenue of £36.4m, with profit before tax and highlighted items at £5.9m.

Meanwhile, Bloomsbury Digital Resources (BDR) revenue amounted to £13.3m for the period, with the company on track to achieve its new BDR target of 40% organic revenue growth over the five years leading up to 2027-2028.

"Bloomsbury achieved our fourth consecutive double-digit growth in revenue and profit in the first half," said chief executive officer Nigel Newton.

"These are also our highest ever first half results, with year-on-year revenue growth of 11% to £136.7m and profit growth of 11% to £17.7m.

"These results demonstrate the strength of our strategy of publishing for both the consumer and academic markets."

Newton described fantasy as a "huge and increasingly popular" genre that had driven the firm's consumer division forward.

"Sales of Sarah J. Maas and Samantha Shannon grew 79% and 169% respectively in the period, and demand for Harry Potter, 26 years after publication, remains strong.

"The consumer division revenue grew by 17%, achieving a 26% increase in profit before tax and highlighted items to £11.2m.

"Bloomsbury Digital Resources (BDR) consolidated last year's exceptional growth and increased subscription revenue to 47%."

The non-consumer division's "resilient performance", with 2% revenue growth and £5.9m of profit before tax and highlighted items, demonstrated what Nigel Newton called the strength of Bloomsbury's long-term academic strategy.

"Since the period end, Bloomsbury author Jon Fosse won the most important prize in the literary world, the Nobel Prize in Literature, becoming the eighth Nobel Prize winner on Bloomsbury's Methuen Drama list.

"Bloomsbury's successful strategy of diversifying across formats, markets and territories has created a stronger and more balanced business and a smoother earnings profile across the year.

"Recognising this, and in view of a better balance between sales in the first and second halves of the year than in the past when we were more heavily weighted to the second half and the Christmas market, we are increasing the proportion of the full year dividend paid at the interim."

Newton said Bloomsbury was maintaining its overall dividend guidance for the whole year.

"The strong first half performance means that we are confident of achieving the board's expectations for the year ending 29 February.

"Our strong financial position, with net cash of £39.1m, gives us significant opportunities for further acquisitions and investment in organic growth."

Bloomsbury said it considered current consensus market expectation for the year ending 29 February to be revenue of £273.1m and profit before tax and highlighted items of £32.5m.

At 0859 BST, shares in Bloomsbury Publishing were up 1.41% at 409.68p.

Reporting by Josh White for Sharecast.com.

More News
19 Mar 2019 11:35

Bloomsbury Publishing ends year in line with expectations

(Sharecast News) - Bloomsbury Publishing issued a pre-close trading update for the 12 months ended 28 February on Tuesday, saying it expected results for the year to be in line with the board's expectations.

Read more
24 Jan 2019 15:09

Thursday broker round-up

(Sharecast News) - Reckitt Benckiser: Jefferies downgrades to underperform with a target price of 5,000p.

Read more
7 Jan 2019 09:02

Bloomsbury Publishing Inks Two Digital Distribution Partnerships

LONDON (Alliance News) - Bloomsbury Publishing PLC said Monday it has partnered with Rowman & Littlefield and Manchester University Press to sell their digital titles.Under the the will

Read more
23 Oct 2018 11:00

WINNERS & LOSERS SUMMARY: Travis Perkins Rises After Strong Quarter

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices on Tuesday.----------FTSE 100 - up 3.8%, Randgold Resources, a

Read more
23 Oct 2018 10:20

Bloomsbury grows underlying profit as adult books fly off shelves

(Sharecast News) - Bloomsbury Publishing grew underlying profits 13% in the first half of its financial year as revenues were boosted by books by Kamila Shamsie, Anthony Bourdain and continued sales of 'Harry Potter' books.

Read more
23 Oct 2018 09:28

Bloomsbury Publishing Hikes Interim Payout On Broad-Based Sales Rise

LONDON (Alliance News) - Harry Potter-publisher Bloomsbury Publishing PLC boosted its interim dividend Tuesday after revenue rose despite reported profit dipping on one-off costs.For the to

Read more
19 Jul 2018 16:16

UK Dividends Calendar - Next 7 Days

Friday 20 July Air Partnerdividend payment dateTelford Homesdividend payment payment 23

Read more
1 Jun 2018 17:38

DIRECTOR DEALINGS: Bloomsbury Publishing Chief Executive Sells Shares

LONDON (Alliance News) - Bloomsbury Publishing PLC, the publisher of Harry Potter book series, said Chief Executive Nigel Newton sold 130,000 shares at a price of 234.23 pence per share on the 1.0

Read more
22 May 2018 11:58

Bloomsbury Publishing Says New Year Performance Will Be Ahead Of Views

LONDON (Alliance News) - Bloomsbury Publishing PLC said Tuesday its performance in the new financial year will be "well ahead" of expectations, as it reported increased profit and for to

Read more
15 May 2018 16:10

UK Earnings, Trading Statements Calendar - Next 7 Days

Wednesday 16 May C&C GroupFull Year ResultsBurberry GroupFull Year & Year Year 17

Read more
1 May 2018 09:51

Bloomsbury Publishing Buys Academic Firm IBT Tauris For GBP5.8 Million

LONDON (Alliance News) - Bloomsbury Publishing PLC said Tuesday it acquired academic publishing firm IBT Tauris & Co Ltd for GBP5.8 million in cash.Harry Potter-publisher Bloomsbury pay

Read more
19 Apr 2018 12:57

Bloomsbury Publishing Appoints Conde Nast Executive New Finance Head

LONDON (Alliance News) - Bloomsbury Publishing PLC said Thursday it has appointed Penny Scott-Bayfield as its new finance director from mid July.Scott-Bayfield will replace incumbent Wendy

Read more
27 Mar 2018 13:57

Reuters Health News Summary

Following is a summary of current health news briefs. Severely elevated cholesterol often goes untreated Many patients with dangerously high cholesterol or a genetic predisposition a

Read more
27 Mar 2018 13:57

Reuters Health News Summary

Following is a summary of current health news briefs. Severely elevated cholesterol often goes untreated Many patients with dangerously high cholesterol or a genetic predisposition a

Read more
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

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.