By Najat Kantouar
Bloomsbury Publishing has announced impressive financial results for the first half of the fiscal year, with increased international sales contributing to higher pretax profit and continued revenue growth.
Profit and Revenue
- Pretax profit for the six months ended Aug. 31 was £14.0 million, compared to £12.9 million in the same period last year.
- Adjusted pretax profit, which excludes exceptional and one-off items, rose to £17.7 million from £15.9 million.
- Revenue increased to £136.7 million from £122.9 million, driven by strong sales and consumer growth.
International Expansion and Digital Strategy
Bloomsbury’s success can be attributed to its strategy of diversification across channels and markets.
- The company reported record-high international revenues, which accounted for 76% of total revenue.
- The implementation of a digital strategy has resulted in increasing publishing sales through digital channels.
- Bloomsbury is also expanding its consumer and academic markets.
Outlook and Dividend
Bloomsbury is confident in meeting the full-year market forecasts, with projected revenue and adjusted pretax profit of £273.1 million and £32.5 million, respectively, for the year ending Feb. 29.
- The interim dividend has been raised to 3.70 pence per share, compared to 1.41 pence in the previous year.
- The company is maintaining its guidance for the full year.