Bloomsbury records ‘outstanding’ results in 2020
In the UK, Bloomsbury recorded an ‘outstanding’ financial year, as shown in its 2020 preliminary results, with sales up 14% to £185.1 million (A$338.2m) and profit up 22% to £19.2 million (A$35.1m) in the year to 28 February 2021.
Australian sales were flat over the period, totalling £11.08 million (A$20.2m) compared to £11.11 million (A$20.3) the previous year.
Globally, the publisher’s adult trade revenue was up 17% on the previous year to £43.7 million (A$79.8m). Bestsellers included backlist titles Why I’m No Longer Talking to White People About Race (Reni Eddo-Lodge), Such a Fun Age (Kiley Reid) and Three Women (Lisa Taddeo), as well as frontlist titles Humankind (Rutger Bregman), Piranesi (Susanna Clarke) and Outlawed (Anna North).
Children’s global trade revenue was up 26% to £74.6 million (A$136.3m), led by strong sales of Sarah J Maas (up 129%) and Harry Potter titles (up 7%) .
CEO Nigel Newton told the Bookseller the results ‘demonstrate the strength and resilience of our strategy of publishing for both the general and academic market’, adding that ‘the popularity of reading has been a ray of sunshine in an otherwise very dark year’.
Separately, Bloomsbury has announced the acquisition of independent publisher Head of Zeus in an £8.5 million (A$15.5m) deal, with the move ‘greeted generally positively’ by authors and agents, the Bookseller reported.
Category: International news