TIDMBMY
RNS Number : 8938F
Bloomsbury Publishing PLC
21 July 2021
21 July 2021
BLOOMSBURY PUBLISHING PLC
("Bloomsbury" or "the Company")
AGM Trading Update
Year-on-year revenue growth of 28%
Bloomsbury announces its trading update for the four months
ended 30 June 2021, ahead of the Company's Annual General Meeting
("AGM") at 12.00pm today.
Bloomsbury experienced strong trading for the first four months
of its financial year, with year-on-year sales growth of 28%,
maintaining momentum from the prior year's outstanding
performance.
Trading
4 months
to June 4 months
Revenue by division 2021 to June 2020 Growth
GBP'000 GBP'000
Consumer
Children's Trade 24,828 18,776 32%
Adult Trade 14,916 12,705 17%
Total Consumer 39,744 31,481 26%
Non-Consumer
Academic and Professional 15,765 11,824 35%
Special Interest 7,608 6,189 23%
Total Non-Consumer 23,373 18,013 31%
Total 63,117 49,494 28%
Consumer division revenues were 26% ahead of last year, with
strong print and e-book sales. Adult revenues grew by 17% and
Children's revenues by 32%. Bestsellers included Tom Kerridge's
Outdoor Cooking, the Harry Potter series by J.K. Rowling, Sarah J.
Maas' A Court of Silver Flames and Lisa Taddeo's Animal. UK
Consumer print sales growth was ahead of the market.*
Non-Consumer division revenue was 31% higher than last year,
with Academic and Professional growth of 35%, driven by continued
strong demand for Bloomsbury Digital Resources, which was 41% ahead
of last year. Special Interest revenue increased by 23%.
In June, our revenue benefitted from the two most recent
strategic acquisitions: Head of Zeus delivered GBP859k, within
Consumer Adult, and Red Globe Press delivered GBP478k, within
Non-Consumer Academic and Professional.
Outlook
Bloomsbury is pleased with the performance of our business for
the first four months of the year and the strong June sales of its
two new acquisitions, Red Globe Press and Head of Zeus. We are
actively targeting further acquisition opportunities in line with
our long-term growth strategy. The Board expects the Group's
performance for the year ending 28 February 2022 to be in line with
market expectations.**
Summer weather is driving the success of two UK frontlist
titles: Tom Kerridge's Outdoor Cooking as barbeques take off and
Psycho by the Sea by Lynne Truss as the perfect holiday read.
The results for the six months ending 31 August 2021 will be
announced on 27 October 2021.
*Nielsen reported print growth for the period 14 March 2021 to 3
July 2021, compared to 2019, of 8%. There was no 2020 data due to
the first UK lockdown."
** The Board considers current consensus market expectation for
the year ending 28 February 2022 to be revenue of GBP193.4 million
and profit before taxation and highlighted items of GBP19.3
million.
For further information, please contact:
Bloomsbury Publishing Plc
Nigel Newton, Chief Executive nigel.newton@bloomsbury.com
Penny Scott-Bayfield, Group Finance penny.scott-bayfield@bloomsbury.com
Director
Hudson Sandler +44 (0) 20 7796 4133
Dan de Belder / Rebekah Chapman 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.
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incorporated in, or form part of, this announcement.
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END
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