Canongate revenue up 16% in 2020

In the UK, Canongate Books recorded a turnover of £13.9 million (A$26.1m) in 2020, up 16% on its 2019 result, reports the Bookseller.

The company’s pre-tax profit totalled £2.6 million (A$4.9m), and the group paid its authors and agents £3.4 million (A$6.4m). Canongate’s ebook and audio divisions grew 62% to £2.4 million (A$4.5m).

Canongate CEO and publisher Jamie Byng said that although 2020 was ‘a year full of uncertainties and unprecedented challenges for everyone and for every business’, the ‘publishing sector was fortunate in being relatively unscathed compared to others, and the pandemic and the various lockdowns made books play a more important role in people’s lives than ever’.

‘Consequently, we saw a sizeable uplift in sales and across every part of the Canongate business in 2020 and we ended up having a record-breaking year, both in terms of turnover and profitability,’ said Byng.

‘This outstanding performance has continued into 2021 and has helped us to the strongest first half year in the company’s history. And with an exceptional autumn publishing programme in place, and the ongoing success of the Severn House imprint, I am confident that we can follow 2020 with another stellar set of results.’

Category: International news