Join our community of smart investors

Read between the lines at Bloomsbury

RESULTS: Book publisher Bloomsbury is successfully navigating the digital transition
May 20, 2014

Book publisher Bloomsbury Publishing (BMY) successfully fended off the dual headwinds of diminishing Harry Potter sales and the rise of e-books over the year to 28 February. That was largely thanks to another strong year of new titles in its Adult and Children's divisions, which helped push group-wide revenues up more than a tenth.

IC TIP: Buy at 157p

A weak bottom-line performance from the Academic and Professional division was more than offset by a number of major bestsellers in the Adult division, including Khaled Hosseini's 'And the Mountains Echoed'. After stripping out restructuring costs and acquisition-related amortisation charges, pre-tax profits climbed by a more modest 4 per cent, reflecting a surge in sales and administrative costs.

To continue reading...
REGISTER FOR FREE TODAY
  • Read 3 articles for free each month
  • Educational articles and topical investment guides
  • In-depth podcast episodes by our writers and industry professionals
  • Interactive live webinars on investment themes that matter
Have an account? Sign in