Last checked at 18 Jul 2023 07:00
18 July 2023
BLOOMSBURY PUBLISHING PLC
("Bloomsbury" or "the Company")
AGM Trading Update
Sales growth of 9% in the first four months
Bloomsbury announces its trading update for the four months ended 30 June 2023, before the Company's Annual General Meeting ("AGM") at 12.00pm today.
Bloomsbury's trading has been in line with expectations* following a good performance in the first four months of its financial year, with year-on-year sales growth of 9% maintaining the momentum from the prior year.
Consumer bestsellers in the period included The Earth Transformed by Peter Frankopan, Trespasses by Louise Kennedy, A Day of Fallen Night and The Priory of the Orange Tree by Samantha Shannon, the Harry Potter series by J.K. Rowling, and Sarah J. Maas' titles across all three of her bestselling series: Crescent City, Throne of Glass and A Court of Thorns and Roses.
The Non-Consumer division's performance reflected continued growth in Bloomsbury Digital Resources (BDR), reflecting the ongoing shift to greater digital learning.
The Board remains confident in Bloomsbury's ability to continue to deliver long-term success, with significant financial resources available to invest in organic growth and further company acquisitions. Global diversification across channels and markets continues to serve us well and further underpins our positive outlook.
The results for the six months ending 31 August 2023 will be announced on 26 October 2023.
* The Board considers current consensus market expectation for the year ending 29 February 2024 to be revenue of £273.1 million and profit before taxation and highlighted items of £32.5 million.
For further information, please contact:
Bloomsbury Publishing Plc | |
Nigel Newton, Chief Executive Penny Scott-Bayfield, Group Finance Director | nigel.newton@bloomsbury.com penny.scott-bayfield@bloomsbury.com |
Hudson Sandler |
+44 (0) 20 7796 4133 |
Dan de Belder / Amelia Craddock / Emily Brooker
| bloomsbury@hudsonsandler.com |
The information in this announcement has not been audited or otherwise independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. None of the Company or any of its affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss whatsoever arising from any use of this announcement, or its contents, or otherwise arising in connection with this announcement.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to purchase any shares in the Company, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares of the Company.
Certain statements, statistics and projections in this announcement are or may be forward looking. By their nature, forward‑looking statements involve a number of risks, uncertainties or assumptions that may or may not occur and actual results or events may differ materially from those expressed or implied by the forward-looking statements. Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Accordingly, forward-looking statements contained in this announcement regarding past trends or activities should not be taken as representation that such trends or activities will continue in the future. You should not place undue reliance on forward-looking statements, which are based on the knowledge and information available only at the date of this announcement's preparation.
The Company does not undertake any obligation to update or keep current the information contained in this announcement, including any forward‑looking statements, or to correct any inaccuracies which may become apparent and any opinions expressed in it are subject to change without notice.
References in this announcement to other reports or materials, such as a website address, have been provided to direct the reader to other sources of information on Bloomsbury Publishing Plc which may be of interest. Neither the content of Bloomsbury's website nor any website accessible by hyperlinks from Bloomsbury's website nor any additional materials contained or accessible thereon, are incorporated in, or form part of, this announcement.