S&S UK profit up in 2016

In the UK, Simon & Schuster made a before-tax profit of £3.76m (A$6.37m) in 2016, up from a loss of £132,000 (A$223,000) in 2015, reports the Bookseller.

Turnover was up £677,000 to £42.1m last year, boosted by strong sales of adult nonfiction—in particular, Bruce Springsteen’s Born To Run. The company also published 100 fewer books in 2016, helping the company to post a profit. Growth in print book sales offset ebook revenue decline.

Sales to date in 2017 are up 4% compared to 2016, and and profits were set to more than double, the company added.

S&S UK CEO Ian Chapman told the Bookseller the publisher planned to boost its audio division, concentrate more on ‘serious nonfiction and Mind Body & Spirit’, and move away from celebrity books and sport titles, while again publishing 100 fewer books this year.

Category: International news