Source - Alliance News

Bloomsbury Publishing PLC on Wednesday said it expects revenue and profit in the financial year ended February 28 to be ‘comfortably’ ahead of expectations.

Revenue for the financial year is expected to be over £260 million, while profit before tax and highlighted items is expected at around £30 million.

Market consensus, according to Bloomsbury, sees revenue at £242.6 million and profit at £26.9 million for the financial year ended February 28.

The London-based publisher said these positive expectations follow strong trading at the end of its financial year.

Chief Executive Nigel Newton said: ‘We have seen strong demand for our titles - in print, ebook and audio - and continued digital growth. Two of our strongest performances in the year have come from very disparate ends of our publishing strategy - fantasy novels on the one hand and academic digital resources on the other - showing how well our balanced consumer and academic portfolio is working in practice.’

Shares in Bloomsbury Publishing were up 5.5% at 443.10 pence around midday on Wednesday in London

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