TIDMBMY
RNS Number : 0368T
Bloomsbury Publishing PLC
20 July 2022
20 July 2022
BLOOMSBURY PUBLISHING PLC
("Bloomsbury" or "the Company")
AGM Trading Update
Sales growth of 27% for the first four months
Bloomsbury announces its trading update for the four months
ended 30 June 2022, 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 27%,
demonstrating resilience and maintaining momentum from the prior
year's outstanding performance.
Trading
4 months
to June 4 months
Revenue by division 2022 to June 2021 Growth
GBP'000 GBP'000
Consumer
Children's Trade 33,252 24,828 34%
Adult Trade 16,699 14,916 12%
Total Consumer 49,951 39,744 26%
Non-Consumer
Academic and Professional 23,472 15,765 49%
Special Interest 6,838 7,608 (10)%
Total Non-Consumer 30,310 23,373 30%
Total 80,261 63,117 27%
Consumer bestsellers in the period included Paul Hollywood's
Bake, the Harry Potter series by J.K. Rowling, and Sarah J. Maas'
titles. In the UK, according to Nielsen BookScan, Sarah J. Maas has
sold just over one million print books to date. Sarah J. Maas is
also one of the most popular authors on TikTok.
Non-Consumer division growth was driven by continued strong
demand for Bloomsbury Digital Resources.
Outlook
Bloomsbury had a strong performance for the first four months of
the year, trading in line with market expectations* .
The first half of 2022 has seen record UK consumer book sales,
reported by Nielsen**, supporting the view that increased reading
is here to stay.
Bloomsbury was voted Company of the Year at the Master Investor
Awards on 30 June 2022.
The Board is confident in Bloomsbury's ability to deliver
continued success, given the strength and resilience of our proven
strategy, combined with our strong financial position which enables
us to invest in continued organic growth and further acquisition
opportunities.
The results for the six months ending 31 August 2022 will be
announced on 26 October 2022.
* The Board considers current consensus market expectation for
the year ending 28 February 2023 to be revenue of GBP242.6 million
and profit before taxation and highlighted items of GBP26.9
million.
** UK Nielsen BookScan reported Total Consumer Market sales for
the first 26 weeks of 2022 up 3% on 2008, the previous first-half
leader.
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 / Hattie Dreyfus 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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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
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incorporated in, or form part of, this announcement.
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END
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