Bloomsbury Publishing trading in line with upgraded forecasts

Published 16/07/2024, 09:02
Bloomsbury Publishing trading in line with upgraded forecasts

Proactive Investors - Bloomsbury Publishing (LON:BLPU) reported that its trading for the four months ending June 30 was in line with recently upgraded expectations.

This includes the acquisition of Rowman and Littlefield's academic publishing business.

Bestsellers driving consumer sales included titles by Sarah J. Maas, J.K. Rowling, and Stuart Turton.

The non-consumer division saw continued growth in Bloomsbury Digital Resources (BDR), while the purchase of R&L positions Bloomsbury as a leading US academic publisher.

"The board is confident in the medium and long-term strategy for consumer and investing in academic and professional publishing, with the benefits of digital content," Bloomsbury said in a statement ahead of its annual meeting later on Tuesday.

"We continue to execute our strategy of diversification across formats, territories and markets, reflecting our portfolio of portfolios strategy.

"Our authors, customers, consistent performance and the scale and resilience of our business continue to underpin the confidence we have in the future."

Analysts are predicting the publisher with generate revenues of £319.3 million and profit before tax of £37.6 million in the 12 months ended February 28 next year.

Read more on Proactive Investors UK

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