Bloomsbury profit, revenue up
In the UK, Bloomsbury has reported slight growth in profit and revenue in the 12 months to the end of February, reports the Bookseller. The publisher reported revenue of £111.1m (A$219.2m) for the year, up 1.5% on last year, while profit before taxation was up 1% to £9.6m (A$18.9m). The growth comes despite a 10% decline in revenue from the adult trade division, which the publisher said reflected the strong performance of Khaled Hoesseini’s And the Mountains Echoed in 2013. Revenue growth came from its academic (up 12%) and children’s and education (up nearly 13%) division, with the latter boosted by a 29% boost in sales of Harry Potter titles due to the release of a new series with illustrated covers. Chief executive Nigel Newton said the results were consistent with the aims of the business. ‘Our focus remains on growing academic, professional, special interest and educational revenues to reduce the overall exposure of the business to the traditional book market,’ said Newton.
Category: International news