Source - Alliance News

Bloomsbury Publishing PLC on Thursday said expects revenue for the financial year ending February 29 to be ‘comfortably ahead’ of current market expectations, and said profit will be ‘materially ahead’ of expectations.

The London-based publisher said this follows ‘exceptionally strong’ trading in the Consumer division for a number of titles. It also says the Non-Consumer division continues to trade in line with current expectations.

It said that market expectation for financial 2024 is currently revenue of £274.2 million and pretax profit of £32.9 million.

In financial 2023, Bloomsbury reported £264.1 million in revenue and pretax profit of £25.4 million.

Chief Executive Nigel Newton says: ‘I am delighted to report a strong period of trading which is principally driven by the continued phenomenal demand for fantasy fiction. Bloomsbury has consistently built its success on the immense talent of our authors and the exceptional hard work of our teams who support them.’

Shares in Bloomsbury were up 6.6% at 450.00 pence each in London on Thursday morning.

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