Bloomsbury Publishing posted a 225% profit growth rate of £12.9 million, with revenue growth rates of £107 million from 29% year-on-year.
The group’s bestsellers included orange tree paths and Tom Kellige’s outdoor dishes by Samantha Shannon.
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“For a while, publishing company Bloomsbury was like a magician with just one trick. To be fair, it was good. The Harry Potter series is perhaps the biggest single in the history of book publications. It’s a phenomenon,” said Russ Mold, AJ Bell’s investment director.
“However, after the series ended, Bloomsbury stock and sales declined steadily.
“After building a diverse business and making several years of decent progress, the pandemic has returned to Bloomsbury’s prominence and fast forward as people read books and picked up a ton of bugs.”
The book publisher says it hopes to meet market expectations in February 2022 despite supply chain issues. The group expects pre-tax profits to be £19.3 million and revenues to be £133.4 million.
“These results demonstrate the strength and resilience of strategies to be exposed in both consumer and academic markets, as well as digital revenue growth,” said Nigel Newton CEO.
“Our strong financial position and cash generation provide great opportunities for further acquisitions and investments in organic growth. We recognize our strong performance and in line with our dividend policy, we have a provisional dividend of 1 It announced a 5% increase to 1.34p per share.”
