Bloomsbury Publishing PLC Trading Update (9365V)
07 Dezember 2023 - 8:00AM
UK Regulatory
TIDMBMY
RNS Number : 9365V
Bloomsbury Publishing PLC
07 December 2023
BLOOMSBURY PUBLISHING PLC
("Bloomsbury" or "the Company")
Revenue comfortably ahead and profit materially ahead of
expectations
Bloomsbury Publishing Plc (LSE: BMY), the leading independent
publisher, is pleased to announce the following update on
trading.
Revenue is now expected to be comfortably ahead and profit
before taxation and highlighted items materially ahead of current
market expectations* for the year ending 29 February 2024. This
follows exceptionally strong trading in the Consumer division for a
number of titles and particularly Sarah J. Maas' 15 titles.
Bloomsbury has published all of Sarah J. Maas' books throughout the
world and has seen excellent growth in the backlist. The
Non-Consumer division continues to trade in line with current
expectations.
Other important bestsellers in the Consumer division in the
second half of the year to date include Ghosts, the companion book
to the BBC television series, Poppy Cooks: The Actually Delicious
Air Fryer Cookbook by Poppy O'Toole, Pub Kitchen by Tom Kerridge,
The House of Doors by Tan Twan Eng in the US, the Harry Potter
Wizarding Almanac, the official companion to J.K. Rowling's books,
We're Going on a Sleigh Ride by Martha Mumford and Cherie Zamazing
and the Waterstones Book of the Year 2023, Impossible Creatures by
Katherine Rundell. Rundell's fantasy novel is the first children's
book to win the prestigious award in six years.
Nigel Newton, Chief Executive, commented: "I am delighted to
report a strong period of trading which is principally driven by
the continued phenomenal demand for fantasy fiction. Bloomsbury has
consistently built its success on the immense talent of our authors
and the exceptional hard work of our teams who support them."
The Company will provide a further trading update on performance
for the year ended 29 February 2024 in March 2024.
* The Board considers that the consensus market expectation for
the year ending 29 February 2024 is currently revenue of GBP274.2
million and profit before taxation and highlighted items of GBP32.9
million.
For further information, please contact:
Bloomsbury Publishing Plc
Nigel Newton, Chief Executive nigel.newton@bloomsbury.com
Penny Scott-Bayfield, Group Finance Director penny.scott-bayfield@bloomsbury.com
Hudson Sandler +44 (0) 20 7796 4133
Dan de Belder / Hattie Dreyfus bloomsbury@hudsonsandler.com
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
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.
References in this announcement to other reports or materials,
such as a website address, have been provided to direct the reader
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
any additional materials contained or accessible thereon, are
incorporated in, or form part of, this announcement.
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END
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